Big Doge: One whale owns 28% of all Dogecoin — Au$28b worth https://stockhead.com.au/cryptocurrency/big-doge-one-whale-owns-28-of-all-dogecoin-28b-worth/ 18 minutes ago | Derek Rose Elon Musk calls Dogecoin “the people’s crypto”. But is it for the masses — or the elites? Dogecoin is the people’s crypto — Elon Musk (@elonmusk) February 4, 2021 An analysis of Dogecoin addresses shows nearly half the supply is owned by just 13 wallets, with two-thirds of the DOGE being held by just 104 wallets. The biggest wallet holds an astonishing 28.4 per cent of the supply — 36 billion Dogecoins. With Dogecoin trading this afternoon at US61.3c (79.2c in AUD), that wallet is nominally worth US$22 billion (Au$28.5 billion). Of course, any attempt to sell that much Doge would quickly crash the market … something that people putting their hard-earned wages into Dogecoins might want to consider. In contrast, the biggest Ethereum wallet holds just 5.8 per cent of the supply — and that’s an account for “wrapped Ether,” rather than one held by an individual. It’s not clear who owns the big Dogecoin wallet. Dogecoin co-founder Billy Markus has indicated it’s not him. The wallet was set up in 2019, when Dogecoin was trading for a fraction of what it is today – around US0.5c. It’s still been accumulating small amounts of DOGE, with 77.77 DOGE twice added today. A Reddit thread in February speculating on who owned the wallet didn’t get far, although some suggested it could be Musk himself. Other speculation has focused on the wallet belonging to Robinhood, the US share-trading and crypto-trading app. But Robinhood isn’t saying.
His biggest mistake was putting it in a wallet. He should have left them all on the Exchanges then nobody would know when he's selling. Now, with eyes glued to that wallet, if he moves big chunks to exchanges it will be pretty obvious what his next move will be...
A few rich folk playing in the sandbox with the poor idiots who live in basements in mom's home. A single move can crash this entire house of cards. And of course our Jboy Elon is smack in the middle of it all. Zero surprise.
Biden will bail out the poor idiots who live in basements in mom's home, until the country becomes socialist and run's out of other people's money to give the boys (theoretically men) in the basement. My sentence is a variation of Margaret Thacker's famous remark "The trouble with socialism is that eventually you run out of other people’s money.".
it's prolly Robinhood management. The decision to include Doge among their few tradeable cryptos on memery alone smells like BS and coincides nicely w/the pump.