This is the first major DOGE transfer to the platform recorded by Whale Alert since June 5. Back then, a whopping $32.6 million worth of DOGE was transferred to the platform.
According to Robinhood's Q1 report, Robinhood users hold a whopping $7.36 billion of DOGE. It's the second-most popular cryptocurrency on the platform . Beth Kindig, the lead tech analyst at the I/O Fund, recently noted that Robinhood has a high concentration risk in Dogecoin for cryptocurrency trading volume.
The controversial entrepreneur has also pointed to the fact that Dogecoin has now been listed on Robinhood for years. , Dogecoin co-founder Billy Markus recently downplayed DOGE ETF rumors last month, arguing that the launch of such a product did not seem likely to him. Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption.