Biggest Dogecoin Whale Moves 4 Billion DOGE, Is It Elon Musk?

The largest Dogecoin whale DPDLBAe3RGQ2GiPxDzhgjcmpZCZD8cSBgZ transferred over 3.8 billion DOGE tokens to the DDuXGMFNGpGjaAqyDunSMvceMBruc1wwKF wallet address. The “DDuXGM” wallet address has now become the 5th largest DOGE holder. Does Elon Musk move DOGE or Robinhood move DOGE amid market uncertainty.

Dogecoin Whale moves nearly 4 billion DOGE tokens

Lookonchain in a Tweeter on December 20 revealed that Dogecoin the largest holder “DPDLBA” has transferred 3.84 billion DOGE worth $280.6 million to meet “DDuXGM” today.

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On-chain data reveals that “DPDLBA” is the largest holder of Dogecoin and holds almost 25.24% of the supply. The wallet address contains 34.68 billion DOGE worth $2.6 billion. The second largest holder of Dogecoin holds 7.55 billion DOGE, or 5.50% of the total supply. Thus, there is a huge difference between the wallets.

“DDuXGM” is now the fifth largest Dogecoin which holds over 3.84 billion DOGE and represents 2.80% of the supply. The on-chain data indicates that six equal transactions of 632,479,064.94 DOGE were made from “DPDLBA” to “DDuXGM” and a single transaction of 49,074,826.85 DOGE. As a result, the wallet became the 5th largest DOGE holder in just one hour.

Many believe that Elon Musk is the largest holder of Dogecoin and holds huge amounts of DOGE. However, historical data suggests that “DPDLBA” is associated with Robinhood.

Crypto trading app Robinhood moved all Dogecoin from its cold wallet to a single wallet in July. According to blockchain wallet tracker Dogecoin Whale Alert, Robinhood has moved the 41 billion DOGE it holds to “DPDLBA”. The move could be linked to the resignation of Elon Musk as CEO of Twitter.

Elon Musk’s Twitter poll results pulled as Twitter chief speaks out against Musk. After about 12 hours came the results with over 17 million votes, where 57.6% of people agreed that Musk should step down from his post on Twitter.

DOGE Price Remains Low

Dogecoin price fell after Elon Musk suggested complying with poll results. DOGE price fell to $0.070, before rallying to $0.078 in the past 24 hours. Additionally, DOGE price is currently trading at $0.074, down nearly 6% in one day and 16% in one week.

DOGE price is likely to remain weak this month as Bitcoin price risks losing its support level amid market uncertainty.

Also Read: How Japan’s Monetary Policy Will Impact Bitcoin, Ethereum Price

Varinder is a technical writer and editor, technology enthusiast, and analytical thinker. Fascinated by disruptive technologies, he shared his knowledge on blockchain, crypto-currencies, artificial intelligence and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period of time and currently covers all the latest updates and developments in the crypto industry.

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.

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