Robinhood’s clients have raised $1 billion worth of altcoin Dogecoin (DOGE) in the past month, a notable increase. Wallet tracking data reveals an impressive 11.16% increase in total DOGE holdings held by the popular trading app. As DOGE continues to make waves, its price has increased by 2.5% in the last 24 hours. It is also currently trading at $0.06794, up 8.97% over the past week.
Robinhood’s altcoin DOGE assets reach $2.58 billion
There is a recent tweet by @DogeWhaleAlert. Accordingly, Robinhood’s stash of altcoin DOGE has witnessed a significant increase. At the end of May, the trading platform had 22,641,958,530 DOGE worth $1,598,454,346 in its wallets.
The current total combined amount of #Dogecoin held by @RobinhoodApp 🪶 on behalf of its investors is:
38,317,905,469 $DOGE
$2,579,369,807 USD
27.39% of the circulating supplyhttps://t.co/iWz81VqfEE— Ðogecoin Whale Alert (@DogeWhaleAlert) June 23, 2023
However, current figures point to a notable 11.16% growth. Also, Robinhood currently maintains 38,317,905,469 altcoin DOGE, equivalent to $2,579,369,807. This increase represents a 17.16% increase in total altcoin DOGE holdings.
Rapid growth in Robinhood’s DOGE adoption
The rise in Robinhood’s DOGE holdings demonstrates the growing popularity of the meme-coin-inspired cryptocurrency. It also shows its adoption. Over the past month, Robinhood customers have purchased approximately $1 billion worth of altcoin DOGE. Customers showed intense interest in this digital asset. DOGE’s ownership increased by 27.39% compared to May 25, indicating that investors are embracing DOGE’s potential.
DOGE’s recent performance has been remarkable, with a 24% gain over the past 2.5 hours and an impressive 8.97% gain over the past week. According to CoinMarketCap, altcoin DOGE is currently trading at $0.06794. This shows its durability and attracts the attention of investors.
What does it mean?
Robinhood’s customers have made a significant splash, accumulating a staggering $1 billion in DOGE in just one month. The rise in DOGE assets reflects growing enthusiasm and confidence in this meme-inspired cryptocurrency. Altcoin DOGE remains an asset to watch closely as its recent price spikes and stable presence in the market continue to captivate investors and crypto enthusiasts.
In this increase cryptocoin.com When we look at it as an Elon Musk effect, it is a positive development. Because if you ask almost everyone, they draw attention to the correlation between Dogecoin and Elon Musk. Accordingly, promoting a cryptocurrency creates risky situations for its followers. For this reason, cryptocurrencies that are fed by their own internal dynamics rather than a cryptocurrency that is affected by every positive or negative statement are more adopted. The altcoin Dogecoin example presents a different situation.
