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Robinhood’s Focus on Meme Coins: 41 Billion DOGE Held, SHIB Added Today

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Tue, 04/12/2022 - 17:00
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Yuri Molchan
Robinhood extends its focus of meme cryptocurrencies as it holds $5.7 billion in Dogecoin and added Shiba Inu today
Robinhood’s Focus on Meme Coins: 41 Billion DOGE Held, SHIB Added Today
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Robinhood investment app keeps holding one third of the circulating Dogecoin supply, according to a recent tweet of @DogeWhaleAlert.

Besides, today it announced the official addition of the second largest meme cryptocurrency Shiba Inu as it seems to extend its focus on meme cryptos that are becoming a trend in the crypto community.

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Robinhood holds 41 billion Dogecoin

As per the aforementioned Twitter account focused on DOGE transactions, the popular brokerage app Robinhood continues to hold Dogecoin on behalf of its clients.

A tweet published by @DogeWhaleAlert less than an hour ago says that the app holds a comprised 41,049,549,937 Dogecoins, which is the equivalent of $5,764,136,753. This is also a staggering 30.94 percent of the circulating supply of the leading meme token.

The Dogecoins are held in two wallets - 3334959 and 1699275 – using eight known digital addresses, as per the tweet.

Related
Shiba Inu (SHIB) Finally Listed by Robinhood Together with Other Altcoins

Robinhood adds SHIB, offers a giveaway

Robinhood has finally added Shiba Inu, pleasing the SHIB army that has been looking forward to this day for many months. The expectations were that this move by Robinhood would send the price of the token to as high as $0.01.

However, so far SHIB has risen over 18 percent on the news. Now, after a slight pullback, the token is changing hands at $0.00002704, as per CoinMarketCap.

On its Twitter handle, Robinhood has officially announced the addition of SHIB, SOL, MATIC and COMP after other sources had leaked the news already.

Robinhood has offered a giveaway in SHIB worth $100,000 – that is worth 3,679,175,864 Shiba Inu – to celebrate the launch of this crypto on its platform.

As reported by U.Today, last year, a petition was launched on Change.org, requesting that Robinhood would list Shiba Inu. It has received a total of 559,701 signatures by now.

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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 yuri.molchan@u.today.