Millions of Dogecoins Transferred with Involvement of Robinhood
A Dogecoin transaction worth $3.2m involving 52 million DOGE tokens and a DOGE richlist wallet took place, with a fee of only $0.47 being incurred on the transfer. Around the same time, Robinhood, currently the second-largest holder of DOGE, received and transferred 204.977 million and 189.073 million DOGE tokens respectively, worth approximately $12.62m and $11.649m cumulatively. Data from BitInfoCharts shows that Robinhood’s wallet currently holds 10.79 billion DOGE tokens, representing 7.72% of the supply. DOGE has been creating new local lows since mid-April but has been maintaining its downtrend line as support and was trading at $0.061 at press time. Its price is below most critical averages and equivalent to levels last registered in March 2021.