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

For some time, Elon Musk has become one of the key players in the Dogecoin ecosystem. He said he liked the memecoin. Since then, he has often played a key role in the development of crypto. If many wonder about the number of DOGE he has, an analyst announces that he 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. He relies on transfers from the samecoin to this address to justify his position. Last July, just days after Elon Musk’s birthday, the address received $41 billion from DOGE.

In his thread, the analyst noted a few notable 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 the life of Elon Musk.

the thread

On February 10, 2021, an address titled “DH5ya” had accumulated a deemed significant amount of dogecoins (DOGE). That same day, the Tesla boss tweeted that he had just bought DOGE for his son. Lookonchain says that other than the “Robinhood” address, if it turns out that this wallet was that of Elon Musk himself, it wouldn’t surprise anyone. The wallet has accumulated a lot of the crypto over the past few months in major events, he continued.

Additionally, several major moves to this address coincide with Elon Musk’s birthday, Lookonchain notes. It should be remembered that Elon Musk indicated that he only holds 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 him one day at this level. It indeed needed a major boost from Elon Musk, who made it popular. Recently, he hinted at DOGE’s acceptance on Twitter, which pushed the price up.

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Luc Jose Adjinacou avatar
Luc Jose Adjinacou

Far from having dampened my enthusiasm, an unsuccessful investment in a cryptocurrency in 2017 only increased my enthusiasm. I therefore resolved to study and understand the blockchain and its many uses and to relay with my pen information relating to this ecosystem.

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