Dogecoin transfer of 203,556,622 $Doge It has gained attention in the last 24 hours. Whale Alert reported movements of 203,556,622 people $Doge The equivalent of $20,059,987 was transferred to Robinhood from an unknown wallet.
A similar trend was seen on February 4th, when the number of people increased to 277,731,894. $Doge The equivalent of $29,491,644 was transferred to Robinhood from an unknown wallet.
🚨 203,556,622 #$Doge (20,059,987 USD) from unknown wallet to #Robinhood https://t.co/o18i9psMhR?from=article-links
— Whale Alert (@whale_alert) February 6, 2026
Dogecoin price has also rebounded nearly 6% in the past 24 hours, reversing its downward trend this week.
Cryptocurrencies have been volatile since October’s brutal crash that eroded market confidence. Selling has increased this week as leveraged bets unwind and market volatility increases.
Delays in the release of important US economic indicators due to the partial government shutdown also contributed to the market slump. Investors also continue to retreat from risk-on assets, prompting major cryptocurrencies to fall sharply.
Along these lines, Dogecoin fell for three consecutive days this week, hitting a low of $0.0799 on February 6th.
The sell-off was driven by risk-off positioning and heavy derivatives speculation, with futures trading volumes surging even as spot trading declined.
Dogecoin hit a low of $0.0799 on Friday and then rebounded sharply, reaching $0.10 before falling back.
What’s next?
As cryptocurrencies decline, we see an overall decline in market depth, which is a typical sign of reduced liquidity and amplifies price fluctuations during periods of volatility.
According to Kaitaka, market depth averages 1%. $Doge It fell from about $12 million on January 1, 2026 to $10 million in early February. More broadly, the market depth of several crypto assets has declined by hundreds of thousands of dollars in recent weeks.
Traders see $0.07 as an important support level, and a breakout below could open the price to $0.05. According to Alicharts, Dogecoin has solid support near $0.054. A rebound above $0.106-$0.110 may be needed to sustain the recovery.