Despite massive price drop, Dogecoin has seen its acceptance for payments rising
According to WhaleStats, Dogecoin remains one of the most used smart contracts among the top 500 BSC whales in the last 24 hours.
Amid continuous market instability, Dogecoin has dropped roughly 8% in the last 24 hours. Barely one year ago, Dogecoin was trading near its all-time highs of $0.73 after an earlier run-up in the prior months. The all-time highs coincided with the timing of Tesla CEO Elon Musk’s appearance on “Saturday Night Live.” The price of Dogecoin dropped by nearly 40% subsequently and has not recovered.
At the current price of $0.117, Dogecoin remains down 84.05% from its all-time high reached in May 2021 and ranks 12th in terms of market value. Despite the massive price drop, Dogecoin has seen its acceptance of payments increase, with several global brands such as AMC, Tesla, Newegg, and SlingTV allowing it to make payments.
U.Today reported over the weekend that 455 million WordPress websites may now accept Dogecoin using the WooCommerce plugin “Easy Dogecoin Gateway.” Amazon founder Jeff Bezos following Dogecoin creator Billy Markus might suggest that the Amazon founder might be warming up to Dogecoin, DOGE fans believe.
Dogecoin has also been listed on several crypto exchanges, with Mexican exchange Bitso being the latest to announce Dogecoin support. In April, Dogecoin had its historic moment when the first Internet-free transaction was sent via RadioDoge.
Robinhood holds 40.7 billion Dogecoin
Popular brokerage app Robinhood continues to hold Dogecoin on behalf of its clients, according to DogeWhaleAlert, a Twitter account focused on DOGE transactions.
According to a recent Twitter update shared by @DogeWhaleAlert, the Robinhood app currently has a total of 40,789,882,577 Dogecoin, worth $5,314,880,910. This also represents 30.75% of the main cryptocurrency meme’s circulating supply.
According to the tweet, the Dogecoin assets are housed in two wallets, 3334959 and 1699275, with eight known digital addresses.
