Friday, June 18, 2021
Home Altcoin Robinhood Experiences Crypto Trading Outage Amid Dogecoin Sell-Off

Robinhood Experiences Crypto Trading Outage Amid Dogecoin Sell-Off

Popular trading app Robinhood is reeling after its crypto services were interrupted this weekend during the rapid Dogecoin (DOGE) sell-off.

During Tesla CEO Elon Musk’s highly anticipated hosting debut on the legendary late-night comedy program, Saturday Night Live (SNL), DOGE began plummeting from a high of $0.73 down to $0.441 on Sunday.

Crypto analysts like Alex Saunders of Nugget’s News and pseudonymous trader Loma predicted the airing would be a sell-the-news event, which proved to be the case.

In the same period of time, the Robinhood app suffered technical difficulties, preventing users from buying and selling crypto, including their Dogecoin holdings.

“We are aware that customers may be seeing crypto orders display as ‘pending’ for an extended period of time. We are experiencing a delay in order status updates and will provide an update here when the issue is resolved.

The trading platform has since restored its services, but it informed users that they may still experience intermittent issues due to high trading volume and volatility.

“Crypto trading is now fully restored. We know some customers may have experienced intermittent issues earlier. We’ll continue to monitor the situation closely and we’re sorry if you were impacted. Please contact us if you have outstanding issues.” 

DOGE is trading at around $0.55 at time of writing, according to CoinGecko.

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