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DOGE Price Up, While 340 Million Dogecoin Moved From Robinhood

Sat, 08/19/2023 - 10:35
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Yuri Molchan
Almost half billion Dogecoin moved in two transactions with participation of Robinhood wallets as DOGE price begins to go green
DOGE Price Up, While 340 Million Dogecoin Moved From Robinhood
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Prominent blockchain tracking service Whale Alert, which traces large chunks of crypto being moved between wallets, has spotted two large DOGE transfers made with the participation of the popular trading app Robinhood.

Hundreds of millions of DOGE getting moved

Per data shared by Whale Alert, an anonymous whale withdrew a whopping 253,419,377 DOGE worth $16 million from Robinhood to an unmarked wallet. The second transaction carried 84.8 million DOGE to Robinhood, and this is the equivalent of $5.3 million. On Thursday, Aug. 18, close to half a billion DOGE was also removed from Robinhood.

Overall, 338.2 million Dogecoin has been transferred to and from Robinhood.

Robinhood is one of the largest DOGE holders, but it stores Dogecoin on behalf of its customers. As reported by U.Today earlier, the platform holds 38,317,905,514 DOGE evaluated at approximately $2,536,338,802. This is 27.38% of all DOGE in circulation held in 10 wallet addresses on Robinhood.

The company's wallets also hold 20 trillion of the second largest meme coin Shiba Inu. Notably, among the largest Robinhood share owners is BlackRock, Ark Investment, Fidelity and other major companies.

Shytoshi Kusama Shares Shibarium Update in New Blog Post, Here's Exciting Thing

DOGE price begins to recover

After a sudden tremendous fall by more than 9% registered on Thursday, the Dogecoin price started going up again, recovering 6.78% since Thursday.

Over the past 24 hours, the price has been 6.15% up, and the coin is now trading at $0.0637 on the Binance exchange against USDT.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at