Dogecoin jumped about 6% after a large transfer of 203.6 million DOGE, worth roughly $20.1 million, was sent from an unknown wallet to Robinhood during a volatile trading session.
On-chain data from Whale Alert showed the transfer occurred on Saturday, coinciding with a short-term rebound after several days of losses.
The move followed another large transfer earlier in the week, when nearly 278 million DOGE valued at about $29.5 million was also sent to Robinhood, signalling heightened activity by large holders.
Dogecoin had fallen for three consecutive sessions, sliding to a low near $0.0799 on February 6 as risk-off sentiment and heavy derivatives positioning weighed on prices.
Liquidity conditions have also deteriorated, with Dogecoin’s market depth falling from around $12 million in early January to about $10 million in February, increasing the potential for sharp swings.
Traders are now watching key levels, with a sustained move above the $0.106–$0.110 zone needed to confirm recovery momentum.
Until then, analysts say repeated whale transfers and thinning liquidity point to continued uncertainty and elevated volatility in the near term.
At the time of reporting, Dogecoin price was $0.09664.