On the other hand, Dogecoin ($Doge) The market is still stuck in a two-month sideways drift, and on-chain data from Arcam shows a spike in activity in newly identified wallets. In the past few hours, the address “DGdax…GRzKcq” has accumulated more than 3 billion $Dogethe portfolio balance would be $294.86 million.
What is important to note is not only the quantity but also the source of funds. According to the transaction history, a series of large transfers (150 million, 200 million, 350 million) were made in the past few hours. $Doge) was sent to this address from a hot wallet associated with Robinhood.
A whopping 3 billion…$Doge ‘Exit’ limits short selling before Doge Day
The movement of coins from an exchange to a custodial or cold wallet is usually interpreted as a decrease in selling pressure. The holders of these assets clearly have no plans to liquidate their assets in the coming hours, choosing instead to store them off-exchange.
This activity was recorded just four days before April 20th (4/20), which has historically been associated with the Dogecoin speculative rally. Last year, the asset rose 62% in 41 days from this date, reaching a peak of $0.25 in mid-May.
Accumulating such positions within a narrow range of $0.089 to $0.097 suggests that large holders may view the current consolidation as an accumulation zone ahead of a potential impulse. In 2024, this same range saw Dogecoin rise 333% in 50 days.
Despite the movement of 3 billion people, $Doge That alone does not guarantee price increases, and such a cessation of supply from Robinhood limits the liquidity available to short sellers. If the historical pattern repeats and demand increases on April 20th, it could reduce the availability of Dogecoin in exchange order books and cause price movements that most market participants did not expect in the current market environment.
