290 Million DOGE Stun Robinhood Ahead of Predicted Parabolic Run

According to data provided by the prominent blockchain tracker Whale Alert, which monitors large cryptocurrency transactions, less than an hour ago an astounding Dogecoin transfer was made to the Robinhood investment platform as a deposit.

Earlier today, another similar amount of DOGE was transferred with the participation of the same trading app. Together, almost half a billion DOGE have been moved, according Whale Alert.

This transfer to Robinhood took place while a famous analyst within the cryptocurrency community predicted that DOGE may see a parabolic surge once November kicks off.

Robinhood stunned by 290 million DOGE deposit

Whale Alert shared that a deposit of 290,000,000 DOGE has been made to Robinhood from an anonymous blockchain address. This amount of the original meme coin is the equivalent of $48,844,780.

The address that transferred the funds to Robinhood, -1pMke, now holds 31,487,003,299 DOGE in total. On Oct. 30, it sent a massive 369,999,432 DOGE to an unknown address and also received 79,999,701 Dogecoin in an anonymous transaction.

Earlier today, the same source as above detected two other Dogecoin transfers that involved Robinhood. However, they were not deposits but quite large withdrawals: 103,069,813 and 75,242,717 DOGE worth $18,252,008 and $13,399,635.

DOGE eyes parabolic price surge

Cryptocurrency analyst and trader Ali Martinez, who often shares crypto trading charts and his comments on them on his X account, has tweeted that the largest meme cryptocurrency, Dogecoin, is likely to perform a “parabolic bull run” in November, if history is any guide.

He shared a chart on which one can see that DOGE is about to break out of a reversal pattern known as a falling wedge. Assets are likely to start going up after it.

History hints that November could spark a parabolic bull run for Dogecoin. Similar bull runs already took place in 2017-2018 and 2021, according to the chart.

“Keep an eye out for a sustained close above $0.20,” Martinez tweeted.

At the time of this writing, Dogecoin is changing hands at $0.16982 after losing 3.79% over the past 24 hours. Prior to that, DOGE experienced a massive surge of more than 35%, which started on Saturday and peaked on Tuesday at $0.17807.