This mysterious whale account of Doge has a wealth of $ 12 billion!


In the past few days, there has been a sharp decline in the price of Dodgecoin. One of the main reasons for this was China announcing a ban on trading in cryptocurrencies. However, despite registering a downtrend, Dodgecoin is one of the few cryptocurrencies that has seen a significant increase in its price since the beginning of the year. The rise of this coin with the Shiba Inu dog logo goes mainly to Tesla and Space-X CEO Elon Musk. He has supported this coin many times on social media. In February, he warned that the biggest threat to DodgeCoin is its presence in digital wallets in abundance.

This warning of his has once again come to the center. A report states that a Dodgecoin whale account has billions of reserves of this currency despite its decline. The dodgecoin address DH5yaieqoZN36fDVciNyRueRGvGLR3mr7L holds about $12 billion (about Rs 8,752 crore) of it.

Bitinfocharts data According to Dogecoin “whale” first bought this cryptocurrency on 6 February 2019. At that time it was trading at $0.0018 (about Rs 0.13). This holder now holds about 3,671 million Dodgecoins, which is 28 percent of the total supply of this cryptocurrency.

When the market crash started two weeks ago, the total value of this asset was $22 billion (about Rs 16,046 crore). CoinMarketCap At the time of writing the news, Dodgecoin was trading at $0.34 (approximately Rs.23).
In February this year, Musk tweeted that he would fully support investors if they sold most of DodgeCoin’s holdings. He said that the abundance of this currency is the main matter of concern.

He also said that if the accounts of the investors become completely empty, then I am ready to pay them in dollars for the same.

In the field of finance, “whale” refers to an entity that can influence the market of an asset by initiating a large number of transactions. The only problem that arises with whale accounts is that they can very easily influence the market if they start selling their Dodge assets.

The rounds of speculation have started regarding this whale account. Many people have also said that Musk may be the only person who can have this account.

Dogecoin was launched in 2013. The image of a Shiba Inu dog has been used in its logo. It was created by Billy Marcus and Jackson Parker. At that time it was launched as a joke to pay traditional banking fees. Its price in that period was $0.000232 (Rs 0.017).

Source link