The world’s largest Dogecoin address owner bought 420.69 DOGE more. Although this may seem like a very small amount, the fact that the address is still active creates speculation about the identity of the mysterious whale that has been loaded into the joke crypto money for two years.
Data from Bitinfocharts shows that on May 18,
DH5yaieqoZN36fDVciNyRueRGvGLR3mr7L Dogecoin bought roughly 420,6899 DOGE for $ 192.
Adres has accumulated 36.7 billion Dogecoin since 2019 and currently holds about 28% of the total Dogecoin supply. With a price of $ 0.3937, the address’s balance in dollars is currently $ 14.7 billion.
Investors have been pondering who or what is behind the DOGE wallet for months. The address may belong to a person, a market maker, or an exchange, but the nod to the numbers “420” and “69” implies that the person involved in the joke made the purchase.
Dogecoin address belongs to Elon Musk?
According to Noelle Acheson, chief research at CoinDesk, a cryptocurrency exchange address has inputs and outputs. It is worth noting that this address only accumulates DOGE. Adres sold 100 million tokens on April 12th, but this was the only sale in 2021.
Some online forums estimate that the address belongs to “Dogefather” Elon Musk. The address added 28.061971 Dogecoin, which refers to Elon Musk’s birthday on June 28, 1971, to his balance three separate times.
Still, these purchases may be a homage to Musk rather than being completed by Musk himself. The Tesla CEO warned in February that the biggest risk Dogecoin faces is excessive concentration among just a handful of digital wallets.
On Thursday, Dogecoin surged by 15% in just a few minutes, thanks to Musk. Musk posted another cryptic tweet referring to the joking cryptocurrency.
The coin has since reduced its recoveries, but has been up 6,500% since the start of the year.