Tesla CEO Elon MuskBy purchasing Dogecoin in early 2021, it had begun to have a serious impact on the meme coin’s price. DOGE had broken the 1 cent level after reaching $0.07, an increase of 800% in 24 hours in January 2021. The dog-themed token skyrocketed between January and May 2021, reaching up to $ 0.73. After these rises, Dogecoin became the center of attention and became one of the most talked about assets in the financial world. Musk’s investment in DOGE has attracted millions of new and first-time investors worldwide to the crypto market.
Musk has repeatedly tweeted about Dogecoin, declaring himself the “Dogefather”. The billionaire meme is known to have an impact on the coin and can only influence the price with his tweets. The Dogecoin community openly offers its support for Musk.
How Much Dogecoin Is Elon Musk Holding?
Koinfinans.com As we have reported, although Dogecoin’s blockchain is publicly viewable, wallet owners are generally anonymous and never known unless their identities are learned through different methods. Therefore, it is not possible to determine Elon Musk’s wallet exactly.
Space X founder in 2021 dogecoinHe announced that he had invested in . but did not share how many coins he had bought. Therefore, it is still unknown how many tokens he actually owns. However, curious users of Reddit did their best to learn this information and achieved a result.
Just sent some
— Elon Musk (@elonmusk) February 10, 2021
On February 10, 2021, Elon Musk, nonprofit charity GiveDirectlyHe shared that he donated Dogecoin to . Reddit users followed the transactions of the wallet shared by GiveDirectly and suspected that Musk may have donated 150,000 DOGE.
The same users claimed that the same wallet address donated to GiveDirectly in June 2021 has 2,500,000 DOGE. They drew parallels by claiming that the wallet address belongs to Elon Musk and that he has 2.5 million Dogecoins. However, we would like to emphasize once again that these are just allegations.
Elon Musk may be using multiple wallets for security purposes, and this is highly likely.
Bought some Dogecoin for lil X, so he can be a toddler hodler
— Elon Musk (@elonmusk) February 10, 2021
At the time of writing, Dogecoin was trading at $0.06 and was up 7.5% in 24 hours. The meme coin has lost 91% from its all-time high of $0.73, which it reached in May last year.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.