300 Million DOGE Mysteriously Sent to Robinhood As Price On Verge of Breakout

Popular cryptocurrency tracking account on X/Twitter Whale Alert has published a tweet about a jaw-dropping amount of the leading meme coin getting transferred to the Robinhood exchange.

Among them were hundreds of millions of Dogecoin (DOGE). This mammoth transaction took place while the DOGE price has been making desperate attempts to break out.

300 million Dogecoin land on Robinhood

Whale Alert spread the word about a total of 300,000,000 DOGE moving from an anonymous wallet to the trading platform Robinhood, which offers its customers cryptocurrencies and traditional stocks to invest in.

This amount of meme coins is the equivalent of $47,921,394. Data shared by the above-mentioned source revealed that, in fact, a lot more DOGE was transferred than that. While 300,000,000 DOGE went to Robinhood, 129,693,892 DOGE were transacted to another anonymous wallet, which now holds 1,733,699,458 Dogecoin.

This DOGE transfer was preceded by a mind-blowing transaction of another popular meme cryptocurrency, the second largest in terms of market capitalization after DOGE – Shiba Inu.

Trillions of SHIB moved to Robinhood as well

Whale Alert detected that a staggering 3,000,000,000,000 SHIB worth $79,947,000 in fiat were also ejected from one anonymous wallet into another. Etherscan revealed that the receiving address belongs to Robinhood, as in the case with the Dogecoin transfer.

As reported by U.Today earlier this week, another unknown whale purchased a massive chunk of meme coins – 237.8 billion Shiba Inu – sending it to a cold wallet. That purchase was equal to $6,290,435 and was made soon after enigmatic SHIB lead Shytoshi Kusama, and the SHIB team announced they had raised $12 million from respectable investors for building a layer-3 solution on top of Shibarium. The new L3 blockchain will be focused on the privacy and security of transactions and user data.

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Dogecoin price attempts to break out

Meanwhile, the first meme cryptocurrency, DOGE, has been striving to recover and break out. Over the past 24 hours, the Bitcoin parody inspired by memes has managed in gain 4.23%.

Still, it was followed by a slight decline and, overall, the meme cryptocurrency continues to move within the $0.1624 range since Sunday. This is the price tag it is changing hands at at the time of this writing.