Twitter logo unexpectedly dogecoin Elon Musk, who replaced it with his logo, caught the attention of the crypto community. The leading meme coin increased by 37% after this move, challenging almost all other assets in the market. The recorded price increase attracted the attention of another wallet. According to the data, there is a lot of talk about the wallet that previously held DOGE worth $24 billion.
The wallet named “DH5ya” has been active since 2019 and held a large amount of DOGE until May 2021. Elon MuskPlaintiffs accusing of manipulation claim that this wallet belongs to Musk.
Plaintiffs note several indications that DH5ya belongs to Musk, including a transaction of 28.061971 DOGE, corresponding to Musk’s birthday on June 28, 1971, and a transaction that reads “Hi Elon.” Six transactions of 69 DOGE and two transactions of 420 DOGE were also made from this wallet. In addition, the 80085 DOGE transaction, which implies the word “BOOBS”, which is a Musk joke, draws attention.
Elon Musk denies the allegations regarding the Dogecoin wallet. According to Musk, the owner of these wallets Robinhood. Lawyers also demand that the case be dismissed in this context. Musk, who claimed that his previous speeches about the existence were a “slip of the tongue”, claimed that he was innocent.
Robinhood has yet to give an official response to these allegations. However, many people still think that Musk uses the platform to trade. Robinhood’s main wallet currently holds 3.3 billion DOGE, which is 24% of the circulating supply, according to Whale Alert data.
According to DogeChain explorer, DH5ya currently has 50,300 DOGEs in his wallet worth about $5,000. With 1309 transactions, the wallet has sold almost all of its Dogecoin assets.
As a result, the ownership of this mysterious wallet is still unclear, and it remains to be seen whether the allegations against Musk are true. The spike in the price of DOGE also highlights the volatile nature of cryptocurrencies and the potential for market manipulation.
You can follow the current price action here.