Robinhood holds a massive amount of DOGE for its customers
According to data shared by the @DogeWhaleAlert account which monitors large transfers of even the largest token by market capitalization, in the last 24 hours just over 230 million Dogecoin have been transferred with the participation of the top 20 wallets.
Furthermore, the source said that trading app Robinhood holds almost 25% of the circulating DOGE supply.
Large whales displace 231 million DOGE
Recently published tweets show that a total of 150 million DOGE worth just over $13 million was moved from the top 20 wallets to anonymous addresses in two transactions – 100,000,000 and 50,000,000 DOGE.
100,000,000 $DOGE (8,796,600 USD) was transferred from a #Top20 wallet to an unknown wallet.
Fee: 2.27 ($0.20)
Transmission: https://t.co/nonT3u1jUt#DogecoinWhaleAlert #WhaleAlert #Dogecoin #CryptoNews
– Ðogecoin Whale Alert (@DogeWhaleAlert) February 18, 2023
The fees here were minimal, as usual, ones no bank can beat – $0.2 let alone per transaction.
An additional 34 million Dogecoins were also moved by anonymous wallets to the top 20 addresses. A total of 47 million DOGE exchanged hands when the owners of the top 20 wallets moved that amount of coins even between their addresses.
Overall, the Whales have become active in moving their Dogecoin wealth this week after Elon Musk brought the bitcoin parody token to public attention by posting a photo of his Shiba Inu pup as a new “CEO of Twitter”. This tweet even boosted the price of DOGE by more than 9%.
Earlier this week, U.Today reported that an inactive wallet moved 576 million DOGE after being inactive for at least two years.
Robinhood Investors Not Selling DOGE
The same source also reported that popular brokerage app Robinhood now holds 33,562,118,360 Dogecoin on behalf of its customers. This includes $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 today since the start of 2022. long term.
The current combined total amount of #Dogecoin hold by @RobinhoodApp 🪶 on behalf of its investors is:
33,562 118,360 $DOGE
24.29% of circulating supply
– Ðogecoin Whale Alert (@DogeWhaleAlert) February 17, 2023