A recent report from major cryptocurrency tracking service Whale Alert shows that in the last 24 hours, a gigantic amount of Dogecoin has been transferred with the participation of the popular investment platform Robinhood.
A recent report from major cryptocurrency tracking service Whale Alert shows that in the last 24 hours, a gigantic amount of Dogecoin has been transferred with the participation of the popular investment platform Robinhood.
Almost two billion DOGE have been transferred by anonymous whales involved with this investment application.
1.87 Billion DOGE Moved to and from Robinhood
The aforementioned blockchain sleuth has detected half a dozen gigantic-sized cryptocurrency transactions that moved tens and hundreds of millions of Dogecoin each over the past 24 hours.
In total, a whopping 1.87 billion DOGE meme coins have been moved. About half of them were withdrawn from Robinhood by anonymous cryptocurrency whales, and about the same amount was deposited into Robinhood after those withdrawals.
Among the withdrawals, the largest crypto portion contained 250,865,164 DOGE valued at $45,777,632, and the smallest contained 60,434,365 Dogecoin valued at $11,003,377. As for deposits, unknown whales transferred 200,000,000, 220,000,000, and 230,000,000 DOGE to Robinhood.
In total, the fiat equivalent of the 1.87 billion DOGE is $196.9 million.
Dogecoin whales have become very active recently, as DOGE surpassed the popular ADA coin in its market cap size and ranked 8th on the CoinMarketCap scale, ahead of Cardano. DOGE’s market capitalization is currently equal to $26,528,729,566, compared to the $24,083,566,755 that Cardano’s native coin, ADA, boasts of.
However, this is not the first time this has happened this year. At the beginning of March, DOGE already surpassed ADA in this metric.
DOGE price increases
The largest meme cryptocurrency by market cap, Dogecoin, has demonstrated an impressive price surge since Monday as it has risen by more than 9% now. At the time of writing, DOGE is changing hands at $0.1849 after rising from $0.1701 yesterday.
Overall, in the last seven days, DOGE has seen an overwhelming surge, rising by 43.86%. This increase was driven by Elon Musk’s X platform obtaining several more state licenses to process payments in the US.
This has raised the DOGE community’s anticipation that perhaps Musk will finally integrate Dogecoin payments into X in line with his statements prior to his Twitter purchase. Tech tycoon Musk once acknowledged that he believes DOGE is much better suited for micropayments than Bitcoin.
