According to blockchain info, the Dogecoin address DH5yaieqoZN36fDVciNyRueRGvGLR3mr7L owns approximately 36.7 billion coins that accumulated the balance during the crypto bear market of 2019, bought 420.69 more DOGE on Thursday.
The whale paid just $165 for the buy. However, the two numbers are profoundly ingrained in meme culture: “69” refers to a standard or unpopular fornication place while “420” refers to weed or the act of smoking cannabis.
No one knows the actual name of this “whale,” a colloquial word for an individual with a massive supply of a particular cryptocurrency or other properties. However, they currently have a $15 billion stack.
That is almost 30% of Dogecoin’s $51 billion market cap as of press time, and it was worth more than $30 billion before DOGE hit an all-time peak of $0.73 earlier this month.
As the ‘whale’ has never been officially identified, it could belong to a single individual, a community of people, a crypto exchange, or a trading company. Some argue that it is impossible to be a cryptocurrency trading wallet, but those wallets have many inflows and outflows of funds.
The whale shares a passion with or aligns with today’s memes, and second, he has to be very rich to invest millions of dollars in a meme asset.
The characteristics all point to Tesla CEO Elon Musk. He has both the money and seems to like memes, and he has relentlessly promoted Dogecoin on the microblogging platform Twitter for the last year.
Musk has recently claimed that DOGE is on the way to the moon, that he has purchased some of the meme coin for his youngest brother, and that he has received Dogecoin as payment for a recent SpaceX mission.
The ultimate HODLer
According to Dave Lee, a famous Tesla investor on Twitter, Elon Musk is the ultimate hodler. He also does not think if Elon is ever going to sell any of his Doge holdings.
In response, Musk stated that he has not, and he will not sell any of his Doge.
The highest holder’s identity is undisclosed. Yet whoever owns the DOGE is getting wealthier, as the coin increased by 10% after Musk’s tweet yesterday.