Slightly over 230 million Dogecoin have been transferred with the participation of top 20 wallets
Over the previous 24 hours, little more than 230 million Dogecoin have been transferred with the participation of the top 20 wallets, according to the @DogeWhaleAlert account that monitors for huge transfers of the largest meme token by market size.
Also, according to the source, the Robinhood trading app is where around 25% of the DOGE in circulation is held.
According to recently released tweets, two transactions totaling 100,000,000 and 50,000,000 DOGE moved 150,000,000 DOGE, or a little over $13,000,000, from the top 20 wallets to anonymous addresses.
🐕🪙🐋🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨
100,000,000 $DOGE ($8,796,600 USD) was transferred from a #Top20 wallet to an unknown wallet.
Fee: 2.27 ($0.20 USD)
Tx: https://t.co/nonT3u1jUt#DogecoinWhaleAlert #WhaleAlert #Dogecoin #CryptoNews
— Ðogecoin Whale Alert (@DogeWhaleAlert) February 18, 2023
The normal negligible fees applied here were $0.2 or even less per transaction, the lowest that no bank can match.
Anon wallets also transferred 34 million Dogecoins to the top 20 addresses. Owners of the top 20 wallets transferred this many meme currencies across their addresses, resulting in a total transaction of 47 million DOGE.
Overall, since Elon Musk brought attention to the Bitcoin parody currency by publishing a picture of his Shiba Inu puppy as the new “Twitter CEO,” whales have grown more active in shifting their Dogecoin wealth. Even still, that tweet increased the price of DOGE by more than 9%.
After being inactive for at least two years, a dormant wallet moved 576 million DOGE earlier this week.
The prominent trading software Robinhood is now holding 33,562,118,360 Dogecoin on behalf of its users, according to the same source. This is roughly 25% of the total DOGE in circulation and $2,910,607,590.
The current total combined amount of #Dogecoin held by @RobinhoodApp 🪶 on behalf of its investors is:
33,562,118,360 $DOGE
$2,910,607,590 USD
24.29% of the circulating supplyhttps://t.co/iWz81VqfEE— Ðogecoin Whale Alert (@DogeWhaleAlert) February 17, 2023
Since the beginning of 2022, Robinhood has owned roughly the same amount of Dogecoin as it does right now. This may indicate that users of the platform are holding onto their Dogecoin tightly, indicating that this is most likely a long-term investment.
DOGE/USD 4-hour chart | Source: TradingView
At the time of writing, DOGE is changing hands at $0.0888.
Read more:
- Last Time Social Sentiment Metric Was This High, Dogecoin (DOGE) Price Soared At A Triple-Digit Rate
- Dogecoin Whales Are Becoming More Active, But It Might Not Be Good Thing