As is common knowledge, the new CEO of Twitter’s parent company is directly linked to the creation of the first meme coin. Recent studies, however, have suggested that Elon Musk may be one of the world’s largest Dogecoin holder.
The Tesla co-founder has been suspected of having an interest in the crypto-meme coin for quite some time. One analyst, however, believes that new evidence suggests that he is, in fact, the most prominent holder.
Elon Musk reportedly terminates top executives after closing $44 billion Twitter deal.
Elon Musk Could Own Over 41 Billion DOGE
According to a recent thread on Lookonchain, the address “Robinhood” stores the most DOGE. In response to rumors, the site has reason to believe that the given address belongs to Twitter’s prospective new owner.
The address reportedly received $41 billion in DOGE in July. In addition, all of these deals were made from five different locations over the course of just three days.
Some have speculated that “DH5ya” is Musk’s actual wallet address. Contrarily, the billionaire’s interest in the meme coin has persisted. Many are making connections between it and the social media site he just bought.
Musk and Billy Markus, creator of Dogecoin, have had very public discussions about the future of the cryptocurrency. In a subsequent Twitter exchange with Markus, Musk even stated that the coin had potential as a currency.
The rise and fall of the OG meme coin has always mirrored the approval of the newly crowned Twitter CEO. Musk could be the largest holder of the coin due to the frequent links between the two.
With the help of Musk, the meme coin has risen to the eighth largest cryptocurrency by market cap. As the two companies continue to work together, the market may react positively to rumors that DOGE will soon be integrated into Twitter.
Source: Watcher
Disclaimer: This isn’t financial advice; it’s just for education. Crypted Crypto can’t guarantee its accuracy. Every investment and trade carries some risk, so always do your own research. Invest only what you can afford to lose.
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