Dogecoin jumps as $20m whale transfer hits Robinhood

A large Dogecoin transfer to Robinhood has drawn attention amid a volatile crypto market. On Saturday, 203.6 million $DOGE—worth roughly $20.1 million—was moved from an unknown wallet to the trading platform, coinciding with a 6% rebound in Dogecoin’s price.

The move followed several days of declines and marked a short-term reversal from a broader downward trend.

According to Whale Alert, this was not an isolated event.

Just days earlier, on February 4, nearly 278 million $DOGE valued at about $29.5 million was also transferred to Robinhood. These repeated large movements suggest heightened activity by major holders during a period of market instability.

The broader cryptocurrency market has struggled since a sharp sell-off in October that eroded investor confidence. More recently, prices have been pressured by the unwinding of leveraged positions and increased volatility. Dogecoin fell for three consecutive sessions, hitting a low of $0.0799 on February 6 before rebounding to around $0.10, with losses attributed to risk-off sentiment and heavy derivatives trading.

Liquidity conditions have also weakened. Dogecoin’s market depth declined from roughly $12 million at the start of January 2026 to about $10 million in early February, a drop that can amplify price swings during turbulent periods.

Traders are closely watching key technical levels. A break below $0.07 could open the door to further downside toward $0.05, while a sustained move above the $0.106–$0.110 range may be needed to confirm a recovery. Overall, Dogecoin’s recent price action and whale activity point to ongoing uncertainty, with volatility likely to persist in the near term.