“Cryptocurrency news: Robinhood controls one-fourth of current circulating supply”
The Robinhood wallet is now holding 24.19% of Dogecoin’s circulating supply, which is equivalent to $2.5 billion. There has been an increase in Dogecoin whale activity in the past 24 hours, with two transactions worth approximately $5.5 million moving between anonymous wallet addresses. Elon Musk has asked for the dismissal of the lawsuit against him where investors accused him of operating a pyramid scheme to promote Dogecoin. The lawsuit’s outcome and its impact on Musk’s involvement with Dogecoin remains to be seen. Despite this, the cryptocurrency has experienced a 6.64% increase in value over the past 24 hours, and its market capitalization has also risen by 7.30%. This is a welcome development for Dogecoin investors who have been following its price closely in recent weeks.