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33.5 Billion Dogecoin Held by Robinhood Clients After Recent DOGE Surge

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Sat, 18/02/2023 - 20:00
33.5 Billion Dogecoin Held by Robinhood Clients After Recent DOGE Surge
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According to data shared by @DogeWhaleAlert account that watches out for big transfers of the largest meme token by market cap, over the past 24 hours, slightly over 230 million Dogecoin have been transferred with the participation of top 20 wallets.

Besides, the source reported that Robinhood trading app holds nearly 25% of the DOGE circulating supply.

Large whales move 231 million DOGE

Recently published tweets show that a total of 150 million DOGE worth slightly over $13 million were moved from top 20 wallets to anon addresses in two transactions — 100,000,000 and 50,000,000 DOGE.

The fees here were tiny, as usual, the ones that no bank can beat — $0.2 and even less per transaction.

Another 34 million Dogecoin were also moved by anon wallets to top 20 addresses. A total of 47 million DOGE exchanged hands as owners of top 20 wallets moved this amount of meme coins between their addresses.

Overall, whales have become active in moving their Dogecoin riches this week after Elon Musk attracted public attention to the Bitcoin parody token by posting a photo of his Shiba Inu puppy as the new "Twitter CEO." That tweet even pushed the DOGE price up by over 9%.

Earlier this week, U.Today reported that a dormant wallet had moved 576 million DOGE after staying inactive for at least two years.

Related

Robinhood investors not selling DOGE

The same source also shared that the popular brokerage app Robinhood now holds 33,562,118,360 Dogecoin on behalf of its customers. This comprises $2,910,607,590 in USD and almost 25% of the DOGE supply in circulation.

The amount of Dogecoin held by Robinhood has remained more or less the same as now since the start of 2022. This could signify that the platform's customers are holding their Dogecoin tight, and this is likely to be a long-term investment.

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