Some cryptocurrencies take their name from a dog, a frog, or a picture that spread online. People trade the joke, and the price can move on that attention. A brokerage list that also carries Bitcoin can still hold 13 of those character coins in the same account.
The Robinhood crypto account lists those names alongside Bitcoin and Ethereum. A meme coin is a cryptocurrency built to follow a trend, use humor, and gather a community. It is an altcoin, meaning a cryptocurrency other than Bitcoin, and it is often named for a joke or a fun subject. People use it for peer-to-peer payments, speculative trades, or both (source: Investopedia, Meme Coins).
Robinhood lists each coin by its full name, such as Dogecoin, Shiba Inu, Pepe, BONK, and Dogwifhat. You can buy and sell those five in the mobile app using either market-maker routing or fee-tier routing, and on the classic website using market-maker routing. Floki, Moo Deng, Popcat, Cash Cat, cat in a dogs world, Peanut the Squirrel, and Pudgy Penguins use those same order routes. OFFICIAL TRUMP is listed too (source: Robinhood, Crypto availability). For the order steps, read how to buy crypto on Robinhood.
What is a meme coin on Robinhood?
A meme coin on Robinhood is a supported cryptocurrency whose name comes from an internet joke, an animal, or a character, and that you can buy and sell in the crypto account when your state allows it. The account is Robinhood Crypto, LLC, which is separate from the stocks and options account at Robinhood Financial.
The character coins named above are tradable in the phone app on the market-maker route and on fee tiers, and on the classic website through the market-maker path. In the phone app you can choose fee tiers or a market maker for a supported coin (source: Robinhood, Crypto availability).
The desktop trading product uses fee tiers for these coins, and you can view the coin there as well. Market-maker routing folds the cost into the spread. The account overview is in what is Robinhood crypto.
Fee-tier routing, also called exchange routing, posts a percentage that depends on recent exchange-routed volume. The nine-step grid, and a worked ETH example, are in Robinhood crypto fees explained. How the spread on the market-maker route compares with that percentage is in Robinhood crypto spread versus exchange fees. You can buy and sell these supported meme coins in the mobile app, on the classic website, and on the desktop trading platform. In the mobile app, you choose between market-maker routing and fee-tier routing on each order before you submit it to the market to be filled.
Which character coins are tradable?
Robinhood supports character-themed meme coins across the mobile app, the classic website, and the desktop trading platform. Five of those meme coins are available to trade in every supported US state: Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), BONK, and Dogwifhat (WIF).
Eight more character coins trade on the same order routes in most states, while local rules restrict them in New York. Those eight are Floki (FLOKI), Moo Deng (MOODENG), Popcat (POPCAT), Cash Cat (CASHCAT), cat in a dogs world (MEW), Peanut the Squirrel (PNUT), Pudgy Penguins (PENGU), and OFFICIAL TRUMP (TRUMP). Robinhood Crypto received an integration fee for supporting Floki (source: Robinhood, Crypto availability). That fee is a listing arrangement. The cost of your order still comes from the route you pick.
The ticker is the short name in parentheses, and it is what you type when two animal coins sound alike. BONK and Dogwifhat are two of the newer character names on Robinhood's list. Pepe is the frog. Dogecoin and Shiba Inu are the two older dog coins, and both sit in the five that trade across every supported state. Matching the ticker keeps you on the listing you meant, which matters when a social post uses a nickname Robinhood does not use. Use Robinhood's spelling, then check whether your state can trade the coin, then pick the route.
ApeCoin (APE) sits on the real-time market-data list, where trading stays off, so you can watch the price while an order stays unavailable. A price on that list leaves any later listing decision open. A coin the brokerage account leaves off the tradable list can still be transferred and swapped in Robinhood Wallet, which is a separate app (source: Robinhood, Crypto availability).
State limits on these character coins
Most US states have access to the full meme-coin roster and both order routes, while two states have specific restrictions on Robinhood Crypto. Depending on where you live, state rules can restrict either which meme coins you can buy or which order route your account can use.
New York restricts which coins are available to trade: New York residents can buy and sell Dogecoin, Shiba Inu, Pepe, BONK, and Dogwifhat, while the other eight meme coins are unavailable for trading in New York. North Carolina restricts how orders are routed: exchange routing is unavailable for North Carolina residents (source: Robinhood, Crypto order routing). A Dogecoin order in North Carolina uses the market-maker path on the classic website and in the mobile app, so you check the spread on the order screen.
If you move states, read the listing again before you assume yesterday's coin is still tradable. A coin that appears only on the market-data list stays view-only while its price remains on the screen.
When a friend names a coin, search that exact name in the app's supported coins before you fund the buy. Match the spelling, because two animal coins can share a joke and still be different listings, and only the name Robinhood lists is the one you can trade. If the name is missing from the tradable list and present on the market-data list, you can watch it and the order stays unavailable. If the name is on the tradable list, check your state next, then choose the route. That three-step check, name, state, and route, is how you decide before you fund the buy. The same account can trade one character coin and find the next one closed, because the state restriction sits on the listing, not on the account.
How do position limits differ across these coins?
Dogecoin, Pepe, and Shiba Inu share the higher cost-basis cap with Bitcoin, Ethereum, and XRP. That cap is $50,000,000 per crypto. It is the amount of cost basis you can build in the account before a further buy would pass the ceiling.
Every other supported crypto, which includes BONK, Dogwifhat, Floki, Moo Deng, and Popcat, has a maximum cost basis of $20,000,000 (source: Robinhood, Crypto buying and selling). You can buy and hold up to that cost basis, and the market value can later rise past the cap because prices move, though the caps can change. A wide move in a thin character coin can push the market value through the cap you were under yesterday, and the next buy is what the cap still limits. If you are close to the cap, check the cost basis before you add, because the screen value and the cost basis are different numbers. The higher cap on the three dog-and-frog names is why a large DOGE position and a large BONK position are not the same ceiling.
The smallest order is $0.01 on market-maker routing and $0.03 on exchange routing. A scrap below the minimum is crypto dust, and it can be too small to sell. Crypto on this account trades 24/7, aside from scheduled maintenance. A sale's proceeds can be used immediately for another crypto buy. A bank withdrawal of those dollars can take up to 5 business days (source: Robinhood, Crypto buying and selling).
The gap between the estimated buy price and the estimated sell price is the spread (source: Robinhood, Crypto buying and selling). The next section works that gap on a thin coin.
Why the spread matters more on a thin coin
A market order buys or sells at the best price then available. On a thin character coin you read both quotes on the screen before you confirm. The fill price is not guaranteed (source: Investor.gov, Understanding Order Types).
On a stock, that fill price is not guaranteed (source: Investor.gov, Understanding Order Types). On a character coin the best price can rest further from the last trade because fewer orders are on the book and the spread is wider. You still see a buy quote and a sell quote before you confirm, and the gap between those two numbers is the cost of crossing the market-maker route on that coin, that minute.
Take the illustration of 1,000 DOGE with an ask near $0.20. If the sell estimate sits near the $0.19 limit you might have used instead, the gap is about one cent a coin, and across 1,000 DOGE that gap is the round trip you give up by buying at the ask and later selling at the bid. A busier coin can show a gap of a fraction of that. The fee-tier percentage is a different number, shown only on the exchange-routed order, and you compare it with this gap on the order you are about to send.
Weekend trading leaves that gap in place on a Saturday as well as a weekday. A character coin can move on a Saturday while the stock account is closed, and the spread you pay is the one on the screen during that move. A maintenance window pauses the trade. When it ends, you read the estimate again, because the joke that moved the price may have widened the gap while the window was up. The same check applies if you switch from Dogecoin to Shiba Inu or Pepe. The route, the state restriction, and the spread on the screen are what change. Crypto on the account is open 24/7 aside from maintenance (source: Robinhood, Crypto buying and selling).
What does a Dogecoin buy look like?
Take a market buy of DOGE while you live in a state where Dogecoin is tradable, which includes New York. You open the crypto side of the app, search Dogecoin, and choose buy, then you pick market-maker routing or fee tiers, while web classic offers the market-maker route.
On the fee-tier route the order qualifies for the volume schedule. Your rate steps down as eligible 30-day exchange-routed volume rises. The posted range is 0.00% to 0.95% (source: Robinhood, Crypto fee tiers). Volume updates after the order executes.
Say the ask you see is $0.20 and you buy 1,000 DOGE, which is $200 of coin before the spread or the fee. On market-maker routing the cost sits in the spread between the buy estimate and the sell estimate. On fee tiers you pay the percentage for your current volume band on top of the price the route fills. Compare the spread you are shown with the percentage on your tier, on that order, that day, and keep the cheaper all-in price.
A limit buy of the same 1,000 DOGE at $0.19 waits until the ask meets that price or goes under it. If the ask stays above $0.19, the limit stays open. A stop and a stop limit exist for crypto too. Stop limit is one of the crypto order types (source: Robinhood, Order types). The bands on a crypto market order, plus how a stop becomes a market order, are in Robinhood crypto order types.
A common mistake is trying to buy Moo Deng from a New York account. That listing is marked unavailable for trading in New York, so the order stays closed, while Dogecoin on that same account is still tradable in the phone app, on the classic website, and on the desktop product. If you live in North Carolina, Dogecoin is tradable and the fee-tier toggle stays off, so you use market-maker routing and you judge the spread.
How do you trade Dogecoin on BloFin?
Another way to trade DOGE, once you know which character coins Robinhood lists, is DOGE/USDT Spot or the DOGEUSDT Perpetual on BloFin. Spot is the coin itself, and the perpetual is a contract that tracks the DOGE price and can be closed while the coins stay put.
The spot book shows a bid and an ask, a market buy takes the ask and pays the taker commission, and a limit that rests on the book pays the maker commission when it fills. That book is the same idea as what is BloFin spot trading, and the prices sit on the order book. The perpetual uses margin, so a move against the position can liquidate it, while a spot holding of DOGE stays a coin in the account. If you use the perpetual, size it for a sharp DOGE move, because the contract can close you out while the spot coin would still be sitting in the account. From BloFin's operational view, the DOGE/USDT book shows the bid, the ask, and the maker or taker rate before you send the order, so the trading cost is visible next to the price.
A Robinhood sale of DOGE follows the same reporting setup as any other coin on that crypto account, and the forms and the lot order are in Robinhood crypto tax reporting. Keep Robinhood's state restrictions in mind even after you open the BloFin book, because a coin New York can trade on Robinhood is still the coin you were checking.
Maker and taker rates for those markets are on the BloFin fee schedule.
Where a DOGE order goes next
Once you know Dogecoin is tradable on Robinhood in the state where you live, the next choice is the venue for that very next DOGE trade. Spot is the coin you hold. The perpetual is the contract that tracks the DOGE price.
On Spot you buy DOGE and you can hold it through the weekend, including a Saturday move that the stock account would miss. On the perpetual you take a position that can be closed without moving coins, and a move against that position can liquidate the margin. Pick Spot when you want the coin itself in the account. Pick the perpetual when you want the price exposure and you have already decided the size. Either way, read the bid, the ask, and the maker or taker rate before you send, the same way you compared the Robinhood spread with the fee-tier percentage. A thin book can show a wide gap, and that gap is part of the cost on either venue, so you check it on the order you are about to send. Do that check every time the book looks thin on the screen.
Looking to trade DOGE on BloFin? To get started, you'll need to first create a BloFin account, fund your account with cryptocurrency, and navigate to the DOGE/USDT Spot trading page or the DOGEUSDT Perpetual page.
Frequently asked questions
What is the difference between a tradable character coin and a view-only price?
A tradable character coin lets you send a buy or a sell when your state allows that name. A view-only name, such as ApeCoin, sits on the market-data list, where the price can update while the buy control stays off. Seeing the price leaves the listing decision for another day. Check the listing on the day you want to trade, because a coin can be viewable long before it is tradable, and some names stay on the data list (source: Robinhood, Crypto availability).
How does New York treat each character coin?
Each listing carries its own state restriction, so open the coin you want and read whether that listing is available where you live. A hippo coin and a cat coin can be blocked while a dog coin on the next listing is still tradable, and the restriction applies to that asset only. If your account address is in New York, check the listing before you fund a trade in a name you saw on social media (source: Robinhood, Crypto availability).
Does an integration-fee note mean you pay extra on Floki?
Floki carries an integration fee Robinhood Crypto received for adding support. That fee is a listing arrangement. Your buy or sell still follows the route in front of you: the spread on market-maker routing, or the volume schedule on fee tiers. The route still sets the cost you pay on that buy. Price the order from that route, then ignore the listing fee as a separate charge (source: Robinhood, Crypto availability).
What should you do with crypto dust from a meme coin?
Crypto dust is a balance too small for the minimum order on the route you are using. It can sit in the account after a sale that closed most of the position, and it is a scrap of the coin, separate from a transfer and separate from a fee. If you meant to flatten the coin, the next sale still has to clear that route's minimum, so the scrap can remain. Leave it, or wait until you add enough of the same coin to meet the minimum and sell the whole amount (source: Robinhood, Crypto buying and selling).
How do you compare a meme coin's spread with the fee-tier percentage?
Use the fee-tier route when the market-maker gap is wide and your volume band is a low percentage. Use the market-maker route when that gap is tight and the percentage on your band is high. You make that call on the order in front of you, from the phone, where both routes can be selected. If the percentage is hidden, you are on the website path and the gap is the cost you can see. Write both numbers down before you confirm, because the cheaper route can flip from one coin to the next (source: Robinhood, Crypto buying and selling).
Researched and written by the BloFin Academy editorial team with AI-assisted drafting. Updated September 2026. Primary sources: Robinhood crypto help, Investopedia, and Investor.gov. All facts independently verified against cited documentation current as of September 2026.
This article is for informational and educational purposes only. It is not financial, investment, or trading advice. Crypto assets are highly speculative and can lose value. Do your own research and consult a qualified professional for advice on your situation.