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Robinhood Holds over 24% of Dogecoin Supply, Coin Shows Signs of Price Recovery

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Robinhood Holds over 24% of Dogecoin Supply, Coin Shows Signs of Price Recovery

According to the report, according to the data provided by @ DogeWhaleAlert, the number of dogcoin DOGE currently held by the encrypted transaction application Robinhood on behalf of investors has reached 33562118379, which accounts for 24.23% of the total supply of dogcoin, about $2206373662. At the same time, dog coins also showed signs of price recovery with the rebound of the encryption market. At the time of writing this article, it rose to the range of 0.07 US dollars, with an increase of more than 10% in the past 24 hours. （u.today）

Robinhood currently holds more than 33.5 billion DOGE on behalf of investors, nearly a quarter of the total supply

Analysis based on this information:


According to a report from u.today, Robinhood – an encrypted transaction application – is holding over 24% of the total supply of Dogecoin (DOGE), which amounts to approximately $2.2 billion. The data provided by @DogeWhaleAlert reveals that Robinhood’s DOGE holdings have reached 33,562,118,379. At the time of writing, DOGE is showing signs of price recovery, with its value rising by over 10% in the past 24 hours.

This news comes at a time when the cryptocurrency market has been seeing a lot of volatility. Over the past few months, the value of most cryptocurrencies has been in freefall, a trend that some analysts attribute to the major institutional investors who have been getting into the market over the past year. These investors have been primarily buying Bitcoin, Ethereum, and other cryptocurrencies. Dogecoin has been one of the few exceptions to this trend, as it has experienced surges in value despite the overall bearish trend.

While the news regarding Robinhood’s DOGE holdings may come as a surprise to some, others see it as just another indication of the platform’s growing influence in the world of cryptocurrency. Robinhood has been making headlines recently for a number of reasons. The platform was initially designed as a stock trading app, but it has since expanded to include cryptocurrency trading as well. This has made Robinhood a popular choice among new cryptocurrency investors, who appreciate the app’s ease of use and low fees.

In conclusion, this report shows that Robinhood’s DOGE holdings have reached over 24% of the total supply of the cryptocurrency. Additionally, Dogecoin is showing signs of price recovery, with its value rising by over 10% in the past 24 hours. This news is significant because it highlights Robinhood’s growing influence in the world of cryptocurrency and suggests that DOGE is still a viable investment option, despite the overall bearish trend in the market.

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