Popular cryptocurrency exchange, thought to be owned by Robinhood. dogecoin wallet recently made a massive transfer of 1.2 billion units of DOGE. This transfer amounts to $98.5 million and has sparked a great deal of interest and speculation in the crypto community.
While the wallet in question has not been officially confirmed as belonging to Robinhood, there are many in the community who claim that the wallet does indeed belong to the popular crypto exchange.
There are also allegations that the wallet behind the Dogecoin transfer belongs to Elon Musk
However, there are also those who believe that the wallet in question may actually belong to Tesla CEO and billionaire Elon Musk. Tesla CEO Elon Musk has tweeted many times on social media that Dogecoin is his favorite coin.
Dogecoin price has lost 0.70% in the last 24 hours and is trading at $0.08161 at the time of this writing.
DOGE was launched as a meme coin in 2013. DOGE is produced by co-mining as a fork of Litecoin.
Dogecoin’s success is closely related to Elon Musk’s interest in it. Musk started tweeting about Dogecoin in early 2021 and shared a Lion King DOGE meme. This set off a fiery DOGE rally, with temporary dips that peaked when Musk took the stage on Saturday Night Live.
Despite Musk’s promises to raise the price after the Saturday Night Live show, DOGE collapsed. In the months that followed, Musk seemed to lose interest, and DOGE’s price dropped more than 70% from its all-time high. However, Musk still has power over Dogecoin, as his occasional tweets show.
*Not investment advice.
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