The Largest Dogecoin Whale Moves 4 billion DOGE, Is Elon Musk the One?

The largest Dogecoin whale DPDLBAe3RGQ2GiPxDzhgjcmpZCZD8cSBgZ transferred over 3.8 billion DOGE tokens to the wallet address DDuXGMFNGpGjaAqyDunSMvceMBruc1wwKF. The wallet address “DDuXGM”, now the 5th largest DOGE holder, has been moved to DDuXGMFNGpGjaAqyDunSMvceMBruc1wkF. Is Elon Musk or Robinhood moving DOGE amid market uncertainty?
Dogecoin Whale Moves Nearly 4 Billion DOGE Tokens
Lookonchain revealed in a tweet that Dogecoin’s largest holder, “DPDLBA”, has transferred 3.84 Billion DOGE worth $280.6 Million to address “DDuXGM,” today.


On-chain data reveals “DPDLBA”, the largest holder, is holding almost 25.24% of Dogecoin supply. The wallet address has 34.68 billion DOGE, which is $2.6 billion. The second-largest owner of Dogecoin is 7.55 billion DOGE. This represents 5.50% of total supply. There is a significant difference in wallet holdings.
“DDuXGM”, now the fifth-largest Dogecoin, holds more than 3.84 billion DOGE, and accounts for 2.80% of supply. On-chain data shows six transactions equal to 632,479.064.94 DOGE were made between “DPDLBA” and “DDuXGM” with a single transaction of 49.074,826.85 DoGE. In just one hour, the wallet was the 5th largest DOGE holder.
Many believe that Elon Musk is the largest dogecoin holder and has large amounts of DOGE. Historical data suggests that Robinhood is linked to the “DPDLBA”.
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Robinhood, a crypto trading app, moved all Dogecoins from its cold wallet to a single wallet in July. According to Dogecoin Whale Alert blockchain wallet tracker, Robinhood moved all 41 million DOGE it has to “DPDLBA”. This could be due to Elon Musk’s resignation as CEO of Twitter.
The results of Elon Musk’s Twitter poll to resign as Twitter chief were against Musk. After 12 hours, the results of Elon Musk’s Twitter poll to resign as CEO of Twitter were revealed with over 17 million votes. 57.6% agreed that Musk should resign.


The DOGE price remains weak
Dogecoin prices fell after Elon Musk suggested that he would abide by the poll results. The DOGE price fell to $0.070 and then rose to $0.078 within the last 24 hours. The DOGE price currently trades at $0.074, which is a drop of nearly 6% per day and 16% per week.
As market uncertainty makes it more difficult to predict the DOGE price, it is likely that it will remain low this month.
Also read: How Japan’s Monetary Policy Will Impact Bitcoin Price

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