203,556,622 DOGE Land on Robinhood as Dogecoin Price Jumps 6%

A significant Dogecoin transfer of 203,556,622 $DOGE has caught attention in the last 24 hours. Whale Alert reported a move of 203,556,622 $DOGE worth $20,059,987 from an unknown wallet to Robinhood.

A similar move was seen Feb. 4, when 277,731,894 $DOGE worth $29,491,644 was transferred from an unknown wallet to Robinhood.

Dogecoin also saw a price rebound of nearly 6% in the last 24 hours, reversing a downward trend this week.

Cryptocurrencies have been on shaky ground ever since the brutal sell-off in October that sapped market confidence. The selling increased this week in line with the unwinding of leveraged bets and broader market volatility.

The delay in the release of crucial U.S. economic data due to a partial government shutdown also contributed to the market downturn. Investors have also continued to rotate out of risk-on assets, prompting significant declines for major cryptocurrencies.

Along these lines, Dogecoin fell for three days at a stretch this week, reaching a low of $0.0799 on Feb. 6.

The sell-off was driven by risk-off positioning and heavy derivatives speculation, with futures volume surging even as spot trading declined.

Dogecoin sharply rebounded after hitting a low of $0.0799 on Friday to reach $0.10 before retreating.

What's next?

As cryptocurrencies declined, a drop was seen across the board for market depth, a typical sign of declining liquidity, which amplifies price movements during periods of volatility.

According to Kaiko, the average 1% market depth on $DOGE has fallen from about $12 million on Jan. 1, 2026, to $10 million in early February. More broadly, several crypto assets saw their market depth decline by several hundred thousand dollars in recent weeks.

Traders view $0.07 as a key support level, with a break lower potentially opening downside toward $0.05. According to Alicharts, Dogecoin has solid support around $0.054. A rebound above $0.106-$0.110 might be required to sustain a recovery.