The Twitter account @DogeWhaleAlert has shared the information that the Robinhood investing platform (which sells both stocks and crypto to consumers) now holds a total of $5,883,808,025 worth of Dogecoin, the most popular meme cryptocurrency that is also favoured by Tesla CEO Elon Musk.
This amount of DOGE is 31.42 percent of the Dogecoin supply currently in circulation. This equates to 41,687,447,478 coins. This number has been steady since the beginning of March, indicating that Dogecoin investors on Robinhood are hanging on to their meme coins securely.
In addition, @DogeWhaleAlert alleged that Robinhood sent 48,086,697 Dogecoins worth $6,676,165 to an unidentified address.
Earlier today, the Messari data agency stated that Dogecoin’s hash rate had risen to an all-time high, as had the meme coin’s mining difficulty.
This is despite the fact that the DOGE price is down 81.6 percent from its all-time high of $0.7376 on May 8, last year. Furthermore, Dogecoin declined nearly 30 percent since the beginning of 2022, despite a small 20 percent comeback in March.
