Is Elon Musk the largest holder of Dogecoin (DOGE)?

For some time now, Elon Musk has been one of the main players in the Dogecoin ecosystem. He said he liked the memecoin. Since then, he has often played a central role in the development of crypto. If many are surprised by its DOGE number, an analyst announces that it is the biggest maker in the market. Decryption.

The milestones to accumulate Dogecoin (DOGE)?

According to Lookonchain, an onchain analyst, Elon Musk is the largest holder of the memecoin dogecoin (DOGE). On Twitter, he explained that the address “Robinhood”, the largest address in crypto, could belong to the billionaire. It relies on transfers from the samecoin to this address to protect its position. Last July, just days after Elon Musk’s birthday, the launch received $41 billion from DOGE.

In her thread, the analyst noted several significant events in the ecosystem that reinforce his certainty that the CEO of Twitter is the largest holder of dogecoins (DOGE). These events are generally linked to important moments in Elon Musk’s life.

On February 10, 2021, an estimated significant amount of dogecoins (DOGE) was collected by an address named “DH5ya”. The same day, the Tesla boss tweeted that he had just bought a DOGE for his son. Lookonchain says that aside from the “Robinhood” address, if this wallet turns out to be Elon Musk’s own, it wouldn’t surprise anyone. The wallet has accumulated much of the crypto over the past few months in major events, he continued.

Additionally, some big moves to this launch coincide with Elon Musk’s birthday, Lookonchain notes. It should be remembered that Elon Musk revealed that he only has dogecoins (DOGE), bitcoin (BTC) and ether (ETH).

Dogecoin (DOGE) is the eighth crypto by market capitalization. In his early days, it was hard to imagine a day at this level. Elon Musk needed a big boost, which made him very popular. Recently, he hinted at DOGE’s takeover on Twitter, which pushed the price up.

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Luc Jose Adjinacou

Far from dampening my enthusiasm, an unsuccessful investment in cryptocurrency in 2017 only increased my enthusiasm. So I decided to study and understand the blockchain and its many uses and share my pen knowledge related to this ecosystem.