The trading volume of Dogecoin, the original meme cryptocurrency, increased by about 20% during the last day, while at the same time, two anonymous wallets exchanged staggering sums of Dogecoin, amounting to several billion DOGE.
After it was revealed over the weekend that the Robinhood trading app had expanded its DOGE stockpile by around 11%, these enormous sums were transferred.
4 billion Dogecoin on move, Robinhood stash increases
Whale Alert, a well-known blockchain site that monitors significant cryptocurrency transfers, has discovered two enormous transactions that each included two billion DOGE: 1,958,943,330 and 2,076,945,575 meme coins. These were the corresponding amounts in US dollars of $126,443,671 and $134,060,347, respectively.
The transactions were carried out through wallets identified by Whale Alert as anonymous about 14 hours ago, according to the aforementioned source. The quantity of the transactions, however, may give away the fact that they might be crypto exchanges reorganising their crypto holdings.
According to U.Today, popular platform Robinhood, which enables consumers to trade equities and cryptocurrencies and keeps cryptocurrencies on behalf of its clients, saw an increase in its DOGE holdings over the weekend.
The information made public on Friday shows that Robinhood’s wallets have 38,317,905,469 DOGE. This enormous chunk of meme cryptocurrency was valued at $2,579,369,807.
The same source’s wallet tracker, @DogeWhaleAlert, reports that Robinhood owned $1 billion less DOGE a month ago than it does now. Overall, Robinhood’s DOGE holdings increased from the 16.23% reported on May 25 to 27.39% today.
DOGE price, trading volume go up significantly
According to an hourly chart on TradingView (Binance exchange), DOGE showed an increase of 2.44% today and is currently trading at $0.0651.
DOGE briefly fell below the $0.0650 mark yesterday for the first time in the previous five days, but it swiftly rose back above it.
According to information given by CoinMarketCap, the trading volume of DOGE increased by around 20% in the last day, reaching $246 million.
