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
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
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.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100