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Robinhood Denies Restricting Dogecoin Trading, While DOGE Price Skyrockets 140%

April 16, 2021 9:26 am
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Robinhood Denies Restricting Dogecoin Trading, While DOGE Price Skyrockets 140%

Zero-commission trading platform Robinhood denies accusations of restricting Dogecoin (CRYPTO: DOGE) trading.

What Happened: Robinhood has replied to a tweet claiming that the "users report that the platform is restricting Dogecoin trades," saying that it "didn’t place restrictions."

"This is false information," the tweet stated.

Why It Matters: The accusations follow yesterday's reports that Robinhood's crypto asset trading system saw a major outage which resulted in degraded performance.

CoinMarketCap data reveals that over the last 24 hours, Dogecoin's price increased by 144% from a 24-hour low of $0.13 to its high of nearly $0.32.

The mee-based cryptocurrency is on a streak, as it reported a 24-hour gain of 86% on April 14, and 20% on April 11. The coin is also up over 406% compared to a week ago.

Image: Edited Robinhood image

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