The meme coin has been on an upward trend in the last couple of days. On April 6, it gained 7% to surpass $0.18 after a period of stability earlier in the week. Analysts attributed the surge to a substantial movement of 200 million Dogecoins from Robinhood to an undisclosed wallet.
The movement of DOGE, totaling around $35.45 million, was detected by Whale Alert. It involved two transactions carried out within 24 hours. This activity pushed DOGE’s price up by more than 7% to reach $0.196.
Currently, DOGE is trading at $0.2003, reflecting a more than 10% increase in the past 24 hours and an 18.7% uptick over the last 30 days. However, over the previous seven days, the meme coin’s performance was a tad lackluster, losing 3.9% of its value, according to CoinGecko. Alongside the whale transactions, several bullish metrics have also contributed to this price jump.
This includes a 31.95% rise in trading volume over the previous day to $2.23 billion, indicating increased market activity and interest in DOGE. Notably, a substantial portion of this interest, $553.17 million, is held on Binance, followed by Bybit with $435.19 million and BingX with $216.98 million. Overall, Dogecoin’s recent price movements and market metrics suggest a resurgence in investor confidence and interest, highlighting its continued relevance across the cryptocurrency landscape.