You would expect the richest Dogecoin holder to be musk or the ordinary man who invested a lot at the right time. Turns out, it’s a mysterious whale that has also expanded its portfolio in recent times. As per Bitinfocharts, Dogecoin address DH5yaieqoZN36fDVciNyRueRGvGLR3mr7L added some 420.6899 Doge, worth $192 which shot up all of its holdings to $36.7 billion Dogecoins. This means that these coins are worth $15 billion!
Who owns these Dogecoins?
This mysterious whale added these denominations back in 2019. It shot up to nearly $22 billion but due to the recent crash in the cryptomarket, the value has since decreased to $15 billion. As of now, everyone is unsure about the whereabouts and identity behind this Doge wallet. In a conversion with crypto experts, the unidentified ID should belong to an individual or exchange!
Some people were of the opinion that Robinhood was behind this. However, the owner Vlad Tenev put these speculations to rest. Some also believe that this could be Elon Musk himself since there were 3 transactions in the whale wallet worth 28.061971 Dogecoins each which coincidentally [or not] add up to his birthdate – June 28, 1971.
The Cause for Concern
A secret whale holds many Dogecoins worth a huge fortune. While the idea is exciting, it’s actually worrisome for other Dogecoin investors. The financial health of the coin is at stake if one person or exchange holds so much wealth.
Musk has also prompted major Dogecoin owners to sell their coins. He will fully support them and actually provide dollars for the same.
Have you invested in Dogecoin? If yes, how does this new revelation affect you? Let us know in the comments.