dogecoin a Twitter account that studies the movement of whales, cryptocurrency exchange disclosed the amount of DOGE held by Robinhood.
Robinhood had recently allowed users to access cryptocurrency wallets, and users were now able to withdraw their holdings in cryptocurrencies.
Robinhood Holds About One-third of Dogecoin Supply
According to the statement, popular cryptocurrency app Robinhood holds approximately 32% of Dogecoin’s circulating supply.
#Robinhood‘s 🪶 two known wallets—3334959 & 1699275—use eight known addresses, and the total combined amount of #dogecoin held by RH 🪶 on behalf of its investors is:
42,436,664,891 $DOGE
$5,398,537,887 USD
31.99% of the circulating supplyhttps://t.co/iWz81VqfEE— Ðogecoin Whale Alert (@DogeWhaleAlert) February 26, 2022
The crypto exchange has 42,436,664,891 DOGE tokens, which corresponds to a total of $5.39 billion. Using eight different addresses, Robinhood keeps these coins in two wallets in total.
810 Million DOGE Transferred Between Anonymous Wallets
The aforementioned Twitter account, which monitors DOGE whales, announced three major transfers made by anonymous Dogecoin whales in its post a few days ago. In total, more than 800 million DOGEs had changed hands.
In the first whale transaction, 400 million DOGE (approximately $49 million) was transferred to another account, while in the other two transactions, 205 million DOGEs (approximately $25 million) were displaced.
Interestingly, only 12.92 DOGE ($1.61) was paid in total as transaction fees for such large transactions.
DOGE, which has lost 0.60% in the last 24 hours, is trading at $0.126 at the time of this writing. DOGE’s total market value is around $16.7 billion. In May of last year, DOGE broke a record by climbing up to $0.73.
Billy Markus, co-founder of DOGE, recently made a post criticizing meme coins.
*Not investment advice.