AssetsJun 26, 2023

Robinhood customers buy Dogecoin intensively. They spent $1 billion on it in just a month

Users of a well-known trading platform show increased enthusiasm for the largest mem coin.

Analysts of the digital currency sector have recently noticed that investors of the Robinhood platform began to heavily accumulate the most popular mem coin, i.e. Dogecoin during June 2023. Experts who tracked trading movements related to this cryptocurrency informed the recipients of their reports that currently the total amount of DOGE coins stored by the platform Robinhood, on behalf of investors, increased in June this year by as much as 11.16% compared to the end of May 2023.

Robinhood customers are accumulating Dogecoin extensively

Digital currency analysts from Dogecoin Whale Alert noticed a few days ago that users of the popular cryptocurrency platform intensively and dynamically started the process of increasing their investment resources using DOGE. According to the information provided by them, currently the total amount of this digital currency held by Robinhood has increased by as much as 11.16% compared to the data from the end of last month.

This is because at the end of May 2023, the company mentioned above had 22,641,958,530 DOGE in its crypto wallets with an estimated value of approximately $1,598,454,346. Currently, however, it has as much as 38,317,905,469 DOGE, whose estimated value is $2,579,369,807. This means that Robinhood customers collectively increased their holdings in the DOGE cryptocurrency by about $1 billion in just one month.

What will happen next with the DOGE course?

It is worth being aware that the largest meme coin follows the path currently being set by the leading digital currencies, which have experienced a strong rebound on their price charts over the last 3 weeks. What's more, Dogecoin has significantly increased its market value per coin in a short time. In the 7-day range, its price increased by over 6%.

Currently, DOGE changes hands around $0.06602 apiece. At this point, it must not be forgotten that during just the last 24 hours, its rate fell down by over 2%. The most popular mem coin at the current price level deviates from the ATH by as much as 91%. This is because two years ago it cost $0.7376 per coin.