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A recent tweet posted by popular cryptocurrency tracking platform Whale Alert shared details of a large trade made in Dogecoin, the original meme-inspired digital currency, by popular trading platform Robinhood.
The transaction took place as DOGE posted a 5.84% decline over the past 24 hours. As of this writing, Dogecoin is trading at $0.0848 on the Binance exchange.
Whale catches DOGE cheaper on Robinhood
The Dogecoin transfer spotted by the aforementioned blockchain detective contained a total of 88,258,144 DOGE worth $7,474,518, as the whale most likely purchased this gigantic amount of meme coin on Robinhood and then likely withdrew it in a cold storage wallet.
However, details shared by Whale Alert showed that, in fact, there were two transactions – one contained the 88,258,144 DOGE mentioned above and the second carried almost three times as much as the first. 220,709,018 DOGES. The second transfer, however, was made between Robinhood's internal blockchain addresses. The largest transfer was valued at $18,516,700 at the time it was made.
Elon Musk to launch payments on X, will Dogecoin be involved?
As reported by U.Today, earlier this week an official blog for Platform X, which is owned by Elon Musk, stated that the company intends to implement online payments to bring the platform closer to Musk’s vision of an “app for everything.”
Many in the cryptocurrency community still hold out hope that Elon Musk will implement his favorite crypto, Dogecoin, as a payment method on X/Twitter. Musk, however, has not made any statement on the matter; however, he has publicly emphasized on several occasions that X has no plans to launch its own cryptocurrency.
In a podcast released on Thursday, Musk reaffirmed his support for Dogecoin, stating that he has not sold any of his DOGE.
Last year, Musk added several improvements to the X app to expand the tools that content creators could use – long-form posts and live video streams. Additionally, there are two options for monetizing their work. They can either offer their subscribers to subscribe for a small monthly subscription which is automatically debited from their card, or/and activate the monetization function, which will allow popular bloggers to obtain a share of the advertising revenue earned by X.