Recent data shows that Binance whales have increased interest in Dogecoin rather than SHIB.
BNB Chain whales consider alternatives to SHIB
WhaleStats, the on-chain researcher that watches whales, discussed Ethereum, BNB Chain and Polygon networks today. The data shows that BNB Chain whales are collecting the largest meme coin, Dogecoin. Thanks to this interest, Dogecoin has become one of the most popular smart contracts. WhaleStats tweeted on Twitter today that Dogecoin is back in the top 10 list among the largest BNB Chain whales.
JUST IN: $DOGE @dogecoin one of the MOST USED smart contracts among top 2000 #BSC whales in the last 24hrs🐳
Peep the top 100 whales here: https://t.co/gGAxYJttsD
(and hodl $BBW to see data for the top 2000!)#DOGE #whalestats #babywhale #BBW pic.twitter.com/vRyfdvxq0L
— WhaleStats – the top 1000 BSC richlist (@WhaleStatsBSC) August 22, 2022
Shiba Inu and Dogecoin, the second largest meme coin, have also lost around 25% since August 18. Meanwhile, Bitcoin and Ethereum experienced significant drops last week. The crypto giants are currently trading under $22,000 and $1,600 respectively. cryptocoin.com As you follow, Celsius (CEL) was among the rare altcoins trading in the green with 13.47%. Heavy sales in the market are cooling the news of adoption from global companies.
Dogecoin’s global adoption gains momentum
Numerous companies have adopted DOGE over the past few months, including Tag Heuer, Hublot, Uber Eats, and Tag Heuer. Meanwhile, Hublot is a Swiss-based high-end watch brand. Additionally, this year St. BlueBit.io, a crypto platform with offices in Vincent and the Grenadines and Dubai, has added support for Dogecoin to its list.
Legendary watchmaker @Hublot known for unique and daring timepieces now accepts #crypto! Learn more: https://t.co/SEIQzAH7iI pic.twitter.com/VsGjK1JvzF
— BitPay (@BitPay) August 1, 2022
Elon Musk’s DOGE strategy
Dogecoin supporter Matt Wallace, who has more than 627,000 followers, has announced Elon Musk’s new plans. In a tweet, he said that Tesla saw an increase in transactions when it started accepting Doecoin as payment in January of this year. About six months later, SpaceX, the other company owned by Elon Musk, began accepting DOGE. Boring Company, a different business founded by Musk, began accepting Dogecoin in June. Thus, the meme accelerated the adoption of the coin. Musk had previously promised to “bring the real DOGE to the real moon” and referred to DOGE as the “people’s currency”.
Robinhood keeps a large amount of DOGE instead of SHIB
Cryptocurrency exchange Robinhood currently holds a staggering amount of Dogecoins, according to DogeWhaleAlert data. The amount of DOGE that the exchange holds on behalf of users is 39,788,383,750 units. This amount corresponds to approximately $2,761,671,928 DOGE. Also, the meme accounts for 29.99% of the coin’s total circulating supply.
DogeWhaleAlert’s website shows that Robinhood’s users store DOGE coins in two wallets using eight known addresses. However, he recently transferred his clients’ dog coins to a different wallet.
