How Much Dogecoin Is Robinhood Holding On Behalf Of Its Customers?

According to a recent tweet from @DogeWhaleAlert, brokerage app Robinhood Markets Inc (NASDAQ: HOOD) is holding almost $6 billion in Dogecoin (CRYPTO: DOGE) on behalf of its customers.

The DOGEs are worth of $5,847,347,000. This amount of DOGE held by Robinhood is 31.42% of the entire circulating supply, which is 41,687,447,478 coins.

#Robinhood's two known wallets—3334959 & 1699275—use eight known addresses. The total combined amount of #Dogecoin held by RH on behalf of its investors is:

41,668,251,414 $DOGE
$5,847,347,389 USD
31.41% of the circulating supplyhttps://t.co/iWz81VqfEE

— Ðogecoin Whale Alert (@DogeWhaleAlert) April 2, 2022

On Thursday, Robinhood moved over 48 million DOGE tokens worth $6.6 million to an anonymous address. 

48,086,697 $DOGE ($6,676,165 USD) was transferred from a #Robinhood wallet to an unknown wallet.

Fee: 2.00 ($0.28 USD)

Tx: https://t.co/Z4MoC95QV3#DogecoinWhaleAlert #WhaleAlert #Dogecoin #CryptoNews

— Ðogecoin Whale Alert (@DogeWhaleAlert) March 31, 2022

Also Read: Dogecoin On The Move: 506.2M DOGE Transferred by Robinhood and Anonymous Whales

Last week, Robinhood carried out three crypto transactions, moving three lumps of 100,000,000 Dogecoin each, between its internal addresses.

Each of those transfers was worth $13,679,600 and each was sent for a tiny fee of $1.37 (10 Dogecoins).

Earlier in February, DogeWhaleAlert reported that Dogecoin whales moved more than 800 million DOGE, worth roughly around $54.2 million.

At the time of writing, DOGE was trading at $0.1402, up 3.38% in the last seven days. 

The meme coin has been added by the Bitcoin of America chain of ATMs. That is 1,800 BTMs in around 39 US states.  

Also Read: Is Dogecoin More Volatile Than ApeCoin?