Dogecoin Network Dominated as Robinhood Gains Control of 24% of All DOGE Tokens

Mobile trading platform Robinhood has become the world’s largest holder of Dogecoin, with 33.5 billion of the tokens, worth around $2.5bn – equivalent to 24.25% of circulating supply. The company is reportedly not accumulating the cryptocurrency, but is simply holding funds deposited by its users. Analysts believe Robinhood’s holdings could propel the volatile cryptocurrency’s price upwards. Dogecoin has a descending triangle chart pattern, categorised by lower highs and horizontal supporting levels, which has been ongoing for several months. Observers say it could provoke a spike in volatility.

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About The Author

Niels I have been passionate about dogecoin since 2019, and have since become an avid follower and advocate of the cryptocurrency. I keep a close eye on the Dogecoin market and trends, and I'm always up-to-date with the latest news and developments. As a true believer in the potential of dogecoin, I am excited to be a part of the growing community and I'm eager to share my knowledge and experience with others. When not busy with dogecoin, I enjoy golf, and I can often be found on the golf course.

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