Hundreds Of Millions Of Dogecoin Transferred From Robinhood Crypto Exchange

Hundreds of millions of Dogecoin transferred from the Robinhood crypto exchange (Photo; Doc. Bitcoinist)

JAKARTA - Two major Dogecoin (DOGE) transactions that took place on the Robinhood trading platform on January 18, 2025, shocked the crypto community. In less than an hour, a total of 131 million DOGE, worth more than IDR 870 billion, changed hands.

The first transaction recorded shipments of 80,452,117 DOGE, equivalent to around 33.1 million US dollars (approximately IDR 536.5 billion), from Robinhood to an unknown digital wallet. Meanwhile, the second transaction involved the transfer of 51,954,195 DOGE, worth US$21.3 million (approximately IDR 345.4 billion), from Robinhood to the leading crypto exchange, Coinbase.

Allegedly Crypto Whale Action

This fantastic transaction value immediately attracts attention because it is usually just a large entity or what is commonly called a "pause" (whale) term for investors with very large amounts of crypto asset ownership who are able to make transactions of this magnitude.

DOGE's transfer to Coinbase raises allegations of a sale or preparation plan for further trading activities. Meanwhile, transfers to anonymous wallets raise speculation that DOGE is kept by large individuals or groups who want to maintain the privacy of their holdings.

However, until now, the definite motive behind this big transaction is still a mystery and is still limited to speculation.