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Robinhood Holds About 31.42% of Dogecoin Supply

According to Dogecoin Whale Alert, the Robinhood wallet 333495 contains 6 Dogecoin wallet addresses featuring the DBs4WcRE7eysKwRxHNX88XZVCQ9M6QSUSz string storing over 30B DOGE, or $4B. It equates to 22.9 percent of the total amount in distribution. The 2nd wallet, 1699275, contains 2 wallet addresses that feature Dogecoins, as demonstrated by the statistics, although their cache is rather tiny, contributing only 1 percent of the entire Dogecoin distribution supply.

The Dogecoin Holdings by Robinhood Rises to $5.8 Billion

The renowned trading application, Robinhood, maintains a consistent supply of Dogecoins for its users as long as they keep their money safe. According to an official Twitter account @DogeWhaleAlert, financial service Robinhood (which makes provision for customers with both equities and cryptocurrencies) currently owns a sum of $5,883,808,025 among the most famous token, Dogecoin; Tesla CEO Elon Musk also likes that.

This number of Dogecoin represents 31.42 percent of the total Dogecoin circulation supply. That happens to be a total of 41,687,447,478 tokens. This figure has been consistent since last month, indicating that Dogecoin buyers on the Robinhood platform are hodling onto their dog-meme tokens with both hands. The investing application holds the cryptocurrency in 2 wallet addresses, 3334959 and 1699275, which are connected to 8 wallet addresses.

Robinhood Transfers About 48 Million Dogecoins

Aside from that, the official whale alert Twitter account for Dogecoin, @DogeWhaleAlert, said that the Robinhood platform had transferred 48,086,697 Dogecoins with a valuation of about $6,676,165 to an unidentified wallet address. The Messari statistics agency (MSA) stated earlier on 1st April that DOGE’s hash rate has soared to a novel ATH, as has the dog meme token’s mining complexity.

This is despite the fact that the price of DOGE has dropped 81.6 percent from its ATH of $0.7376 set on 8th May 2021. In addition, Dogecoin has lost roughly 30 percent of its value since the start of this year, though it did make a short 20 percent rebound last month.

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