Multiple Large Lumps of Dogecoin Sent to Robinhood, Increasing Its Large DOGE Balance
The @DogeWhaleAlert tracker of Dogecoin transactions has detected four major Doge lumps pushed by unknown wallets. Half of them were sent to the popular trading app Robinhood.
The tracker has also shared how much DOGE Robinhood has in total these days.
600 million dogecoin going on
The above DOGE tracker posted four tweets indicating that 600 million Dogecoins have been sent by wallets marked as anonymous. One of them carried 299,000,000 DOGE, and the other three carried 100,000,000 MEM coins each.
Thus, the first bale of 299 million was transferred to the top 20 wallets. The rest of Dogecoin was ported to the Robinhood platform which allows customers to trade stocks and crypto including Bitcoin, Ethereum, Dogecoin, Shiba Inu and some other coins. These transfers were done internally by Robinhood.
The fee here ranges between 2 and 10 DOGE, which is equivalent to $0.13 and $0.63—easily outperforming any bank or other traditional financial institution that deals with money transfers and remittances.
See how much money DOGE Robinhood has here
According to an earlier tweet from the @DogeWhaleAlert tracking service, at the time of writing, the Robinhood app has a total of 40,438,384,662 Mem Coins. The jaw-dropping amount of Dogecoin is assessed at $2,539,611,434 and comprises 30.48% of the total DOGE supply in circulation.
The platform uses two known wallets, 3334959 and 1699275, at eight different addresses to store these Dogecoins.
DOGE Makers Worried That Wall Street Meme Could Repurchase The Coin
Earlier this week, Dogecoin’s co-creator, IT engineer Billy Marcus, who quit working on the project a few years after its launch but kept watching his luck, jokingly tweeted that DOGE could succeed where bitcoin failed. It is done.
He explained that he meant Dogecoin-based ETFs, while the Bitcoin Spot ETF has been vehemently rejected by the US SEC, while it allowed Bitcoin Futures ETFs.
Marcus appears concerned that Wall Street may repack DOGE if it becomes interested in the meme coin to make tons of money on the meme coin, to make it more attractive to bankers.