In a recent development that has taken the cryptocurrency world by storm, a colossal amount of Dogecoin, nearly two billion to be precise, has been transferred within the last 24 hours. This massive movement of the popular meme coin involved the well-known investment platform, Robinhood.
Anonymous crypto whales, engaged with Robinhood, have been at the forefront of this significant transfer. A staggering 1.87 billion DOGE coins have been moved to and from Robinhood, marking a notable event in the crypto sphere.
The blockchain detectives have spotted six gigantic cryptocurrency transactions involving tens and hundreds of millions of Dogecoin each, all within the past day. The largest withdrawal involved a hefty 250,865,164 DOGE, valued at $45,777,632, while the smallest one carried 60,434,365 Dogecoin, evaluated at $11,003,377.
Interestingly, approximately half of the 1.87 billion DOGE coins were withdrawn from Robinhood, and a similar amount was deposited back into Robinhood after these withdrawals. The total fiat equivalent of the 1.87 billion DOGE stands at a whopping $196.9 million.
Dogecoin whales have been particularly active recently, especially since DOGE has overtaken the popular coin ADA in terms of market capitalization size. Currently, DOGE’s market cap stands at $26,528,729,566, surpassing Cardano’s native coin, ADA, which boasts a market cap of $24,083,566,755.
This isn’t the first time DOGE has outpaced ADA. Earlier in March this year, DOGE had already surpassed ADA in market cap.
In terms of price, Dogecoin has seen an impressive surge. The meme cryptocurrency has increased by more than 9% since Monday, currently trading at $0.1849, up from $0.1701 yesterday. Over the past week, DOGE has seen a remarkable rise of 43.86%.
This surge is largely attributed to Elon Musk’s X platform securing several more state licenses for processing payments in the U.S. This development has fueled anticipation within the DOGE community that Musk might finally integrate Dogecoin payments on X, in line with his previous statements. Musk has previously stated his belief that DOGE is better suited for micropayments than Bitcoin.
