DOGE Price Up, While 340 Million Dogecoin Moved From Robinhood

Almost half billion Dogecoin moved in two transactions with participation of Robinhood wallets as DOGE price begins to go green

Hundreds of millions of DOGE getting moved
DOGE price begins to recover

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Sat, 19/08/2023 - 10:35

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.

🚨 253,419,377 #DOGE (16,052,287 USD) transferred from #Robinhood to unknown wallethttps://t.co/xlyzOzqFFQ
— Whale Alert (@whale_alert) August 18, 2023

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

🚨 84,867,620 #DOGE (5,303,654 USD) transferred from unknown wallet to #Robinhood https://t.co/drnCNQYAvn

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— Whale Alert (@whale_alert) August 18, 2023

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.

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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.

#Dogecoin #Robinhood #Cryptocurrency Whales

About the author

Yuri Molchan

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He 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.