Robinhood Crypto now helps Dogecoin (DOGE) token transfers.
Users can now withdraw and deposit their DOGE and earn a 1% deposit bonus on the official utility till 30 November.
Robinhood Crypto Now Supports Dogecoin Token Transfers with 1% Bonus!
Starting right now, Robinhood Crypto announced that customers can deposit and withdraw Dogecoin ($DOGE) and earn a 1% deposit bonus by way of Nov. 30.
Indeed, this launch is a large transfer, particularly after the current withdrawal wave triggered in May when the platform confronted a Wells Notice from the US Securities and Exchange Commission. Investors took out tens of tens of millions in DOGE throughout that interval after the SEC signaled potential regulatory motion towards Robinhood’s crypto division.
Robinhood Crypto now helps $DOGE token transfers!
Withdraw & Deposit #DOGE and earn a 1% deposit bonus on the app till 30 November.
Terms apply. Download the app: https://t.co/sb4gDoO6Ls#RobinhoodOnchain pic.twitter.com/DYWoWaxITl
— Robinhood Crypto EU (@RobinhoodCrypto) November 2, 2024
Accordingly, post-notice blockchain evaluation from Bitcoinsensus then confirmed that 164 million DOGE-valued at $25 million was moved out of Robinhood, underlining investor warning.
With the help for DOGE transfers turned again on, Robinhood Crypto now seems to be regaining momentum, placing forth enticing incentives for DOGE customers to re-engage on the platform. This could sign the opening of a brand new chapter with Dogecoin in a extra glorious regulatory atmosphere.
Is $10 DOGE Possible?
Dogecoin, the meme-driven cryptocurrency, jumped barely intraday to counsel a short-term bounce. The more moderen worth motion reveals elevated shopping for momentum and consolidation close to a major help space, fueling some optimism available in the market. DOGE surges when crypto has witnessed appreciable ups and downs through the week. For market speculators, if current developments persist, the much-expected $1 will be easily achieved.
Tony Severino, head of analysis at NewsBTC, just lately broached Dogecoin’s chart, pointing to a bullish cross on the two-month Logarithmic Moving Average Convergence Divergence for the primary time since 2021. From historic knowledge, Severino believes a price increase of 8,628% is possible.
It would shoot up Dogecoin’s worth to $10 and transfer its market capitalization to as excessive as $1.466 trillion. Beyond that, by charting the typical timeframe of Dogecoin’s previous 4,300% and 12,000% surges, Severino tasks that the rally will final some 213 days, bottoming out round April 2025. According to Robinhood Crypto knowledge, the worth, on the time of writing hovered arpund $0,16.
Dogecoin Rises Amid Renewed Interest and Market-Wide Bitcoin Momentum
Dogecoin’s current run-up in half owes its success to the current second wave that has gripped the cryptocurrency within the wake of influential individuals, such as Elon Musk, who appears to give oblique consideration to DOGE with strikes resembling launching the Department of Government Efficiency (D.O.G.E).
The reality that he has aligned with Dogecoin has saved the meme-based cryptocurrency within the highlight for an prolonged interval, attributed to the token’s upward trajectory. Adding to this fervor is Bitcoin’s climb to close to its $73,700 excessive, setting a constructive tone throughout the broader cryptocurrency market.
Although the fervor for Dogecoin is excessive, market analysts keenly await whether or not the developments from the elemental perspective will current any promoting stress, contemplating that in the previous few days, there have been massive transfers of DOGE. This maybe had one thing to do with the truth that Robinhood Crypto once more allowed Doge on its platform. Such massive actions typically create hypothesis of elevated volatility. For an asset – that’s vulnerable to sentiment and market traits, resembling Dogecoin, a sudden dump could create fluctuations, which brings some warning as merchants weigh up the subsequent motion part for the asset.
Teuta
Teuta is a seasoned author and editor with over 15 years of expertise in macroeconomics, expertise, and the cryptocurrency and blockchain industries. Starting her profession in 2005 as a life-style author for Cosmopolitan in Croatia, she expanded into protecting enterprise and financial system for a number of esteemed publications like Forbes and Bloomberg. Influenced by figures like Don Tapscott and Bruce Dickinson, Teuta embraced the blockchain revolution, believing crypto to be considered one of humanity’s most important innovations. Her fintech involvement started in 2014, specializing in crypto, blockchain, NFTs, and Web3. Known for her glorious teamwork and communication abilities, Teuta holds a double MA in Political Science and Law, enjoys punk rock, chablis, and has a ardour for sneakers.
Disclaimer: The introduced content material could embrace the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty in your private monetary loss.
