Robinhood Receives 600 Million DOGE From Wallets Marked Anonymous

Four major lumps of Doge pushed by anonymous wallets are detected by @DogeWhaleAlert tracker of Dogecoin transactions. Robinhood, the popular trading app, has received at least half of them.

The tracker also revealed the amount of DOGE in Robinhood in total these days.

Anonymous Wallets Sent 600 Million Worth of Dogecoins

The DOGE tracker indicated that anonymous wallets sent Dogecoins worth 600 million. Three of them transferred 100,000,000 meme coins each, while one of them moved 299,000,000 DOGE.

Therefore a top 20 wallet received the first chunk of 299 million. Robinhood platform received the remainder of Dogecoin, which allows users to trade equities and cryptocurrencies including Shiba Inu, Dogecoin, Ethereum, and Bitcoin. Robinhood performed these transfers internally.

Here, fees ranged from 2 to 10 DOGE, or $0.13 and $0.63. This is significantly less expensive than any bank or other conventional financial organization that is responsible for money transfers and remittances.

Robinhood Is The Owner Of This Much DOGE

At the time of writing, the Robinhood app currently has a total of 40,438,384,662 meme coins, according to a previous tweet from the @DogeWhaleAlert tracking service. Dogecoin is estimated to be worth $2,539,611,434 and contributes to 30.48 percent of the total supply in circulation.

These Dogecoins are stored on the platform using two well-known wallets, 3334959 and 1699275, on eight well-known addresses.

Dogecoin Creator Is Concerned About Meme Coin Being Repackaged

Billy Markus, creator of Dogecoin and an IT engineer, who has dissociated himself from the project a few years after it launched. However, he still keeps an eye on coin development. Earlier this week, he sarcastically tweeted that DOGE might receive success where Bitcoin has failed.

However, later clarifying he said that he meant a Dogecoin-based ETF since the U.S. SEC has brutally rejected Bitcoin spot ETFs but approved a Bitcoin futures ETF.

The Dogecoin creator is worried that Wall Street would repackage DOGE if it shows interest in the meme coin in order to make it appear more appealing to bankers and create some wealth on the meme coin.

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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing