$5.8 Billion in Dogecoin Stored by Robinhood: Report


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Yuri Molchan

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It has been reported that the popular brokerage platform holds 41.8 billion Dogecoins on behalf of its retail clients

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According to data published by @DogeWhaleAlert, Robinhood, a popular trading app for stocks and cryptocurrencies, is holding almost $6 billion in Dogecoin on behalf of its customers.

Robinhood owns 41.8 billion DOGE

The exact amount of meme crypto held by Robinhood in dollars is $5,823,039,490.

This equals almost 8x more in DOGE—41,829,475,750 meme coins—and 31.53% of the entire DOGE supply in circulation. The total circulating amount of DOGE is 132,670,764,299 coins.

Robinhood holds the aforementioned amount of DOGE in two wallets. One of them—3334959—has six crypto addresses, all of which are part of the top 20 Dogecoin addresses.

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The second wallet of the company has just two addresses—DQA5h47M4NdTt2mKDj4nP2VNZWczZi42RY and D8vFz4p1L37jdg47HXKtSujChhP9f3doTK—according to the dogecoinwhalealert website.

Doge spikes on Elon Musk’s recent tweet

As reported by U.Today on Sunday, the original canine cryptocurrency, DOGE, rose by 5.10% after the Tesla boss and the biggest Dogecoin fan, Elon Musk, commented on a suggestion that he buy Twitter and change the logo from its blue bird to DOGE.

Musk recently conducted a poll to see whether Twitter is suppressing freedom of speech. A lot of commentators have proposed that Musk should buy the social media giant. Instead, the head of Tesla is thinking of creating his own social media platform.




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