It seems that the demand for Dogecoin (DOGE) is still quite strong, as a quarter of its total supply is currently held in Robinhood's wallets. According to the DogeWhaleAlert, 33,562,118,437 Dogecoin (24.17% of the total supply) are currently held within the trading platform's wallets, which is equivalent to $2,770,888,498 USD.

These figures illustrate the attention DOGE has been receiving, especially this week. This surge of attention could be mainly attributed to Elon Musk, who quite famously showed his support for the meme token. He even promised to make DOGE Twitter's official currency when the price of the coin surged by 30% at the start of the week, changing the social media platform's logo to feature the iconic image of the Shiba Inu dog.

However, after a few hours of the logo being changed, it was switched back to the traditional Twitter bluebird - but one of the major consequences was the noticeable dip in the value of the Dogecoin. Despite the temporary setback, as can be seen from this recent data, the demand for Doge coin is higher than ever before.

Moreover, due to the rise in the value of DOGE, data from the “Smart Money” tracker Look on Chain and On chain Data Aggregator Santiment have suggested that whales from Elon Musk's close circle might be behind the deposits and sales of DOGE. Specifically, two wallets were seen selling 1.1 billion DOGE and 300 million DOGE, earning a total of $124 million on the deals, leading to speculation that it could be someone from Musk's camp.

All in all, this recent rise in the demand and attention for Dogecoin is remarkable. A quarter of it's supply being held by Robinhood's users not only highlights this but proves that the meme token is here to stay.



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