Robinhood restores support for Dogecoin transfers
Robinhood has brought Dogecoin back to its platform and also introduced a bonus for those who will trade it
Robinhood Crypto has officially launched support for Dogecoin (DOGE) deposits and withdrawals, allowing users to transfer DOGE seamlessly.
To celebrate, Robinhood is offering a 1% bonus on DOGE deposits made through its app until November 30, an incentive aimed at attracting Dogecoin enthusiasts back to the platform, reports CoinGape.
This move comes after Robinhood faced regulatory pressure in May, when the U.S. Securities and Exchange Commission issued a Wells Notice to the platform's crypto division. In response, users withdrew significant DOGE holdings, with blockchain analysis revealing that 164 million DOGE, worth about $25 million, was moved out. Now, with DOGE transfers re-enabled, Robinhood is positioning itself to regain momentum and rebuild trust among Dogecoin investors.
The timing of this support could indicate a more secure regulatory path for Robinhood Crypto, making it an attractive option for DOGE users looking for stable trading and storage solutions. This development may open new opportunities for Dogecoin on the platform, encouraging users to re-engage in a seemingly friendlier regulatory environment.
Recently we wrote, that on October 19, DOGE managed to break through an important psychological mark of $0.15, but then retraced and is now trading above $0.14.
