Dogecoin Down 7%, Contributor Reminds Community To 'Do Your Own Research'
Portfolio Pulse from Khyathi Dalal
Dogecoin (DOGE) experienced a 7% decrease in value over the past 24 hours, amidst significant whale movements and a clarification by Dogecoin contributor Mishaboar about a misconception regarding Dogecoin's distribution. Mishaboar identified a wallet believed to hold 30% of Dogecoin's supply as Robinhood's cold wallet, used for holding DOGE on behalf of its users. He criticized the spread of misinformation by figures like Binance co-founder Changpeng Zhao. The situation highlights the importance of conducting thorough research in the crypto market.
April 09, 2024 | 7:22 pm
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Dogecoin (DOGE) saw a 7% decrease in value, influenced by significant whale transactions and a clarification regarding its distribution.
The 7% drop in Dogecoin's value is directly tied to the recent whale movements and the clarification by Mishaboar. This news could lead to short-term volatility as investors reassess their positions based on the new information regarding Dogecoin's distribution and the role of major platforms like Robinhood in holding large amounts of DOGE.
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