Elon Musk wakes up Dogecoin whale who has been sleeping for 9 years

After Elon Musk changed the Twitter logo to the Dogecoin mascot (DOGE), a sleeping whale moved part of his fortune after leaving it in his wallet for over nine years.

Through several transactions between December 2013 and January 2014, this whale collected more than 1.2 million DOGE at its address. At the time, each DOGE traded for about $0.0004.

Already with the continued support of Elon Musk, the cryptocurrency has skyrocketed in recent years. After his prank this week, the DOGE reached $0.10, leaving the whale above with the equivalent of $110,000.

However, the investor only moved a small portion of his balance, less than 1,000 DOGEs. According to on-chain data, the whale has woken up but still has more than 1 million DOGE at its address.

Dogecoin Whale (DOGE) wakes up to Elon Musk’s attack after 9 years, but continues with most of his balance in the wallet.

Finally some users noticed that the whale should have sold when Dogecoin hit $0.75 in May 2021. This way the investor would have $825,000 (R$4.2 million).

Is Elon Musk a Dogecoin Whale Too?

Then again, many accused billionaire Elon Musk of market manipulation. Bitcoin defender Jimmy Song claimed the increase served the billionaire to pay his expenses with his new social network.

“Elon manipulates Doge so he can pay off his Twitter debt.”

Meanwhile, others pointed to a portfolio holding the equivalent of US$24 billion (R$121 billion) in Doge by 2021, as owned by Elon Musk.

One such wallet, known by the initials DH5ya, was cited in the lawsuit against Musk. However, his lawyers denied that the purse belonged to the billionaire.

“Who owns the largest holder of DogeCoin? Maybe Elon Musk”wrote the analytics company Lookonchain last November, pointing to several pieces of evidence leading to this conclusion.

That wallet contained over 55 billion DOGE, but was zeroed. It currently only contains ~50,000 DOGEs (R$23,500), probably from donations.

More whales got excited when Doge took over the Twitter birdie

In addition to the whale that has been sleeping for nine years, other major investors also moved their fortunes after Twitter adopted Doge as its mascot instead of its equally famous little blue bird.

Dogecoin Whale Alert, a profile that tracks major DOGE transactions, continues to report moves equivalent to millions of reais in the most famous memecoin on the market.

“$7,170,471 DOGE ($671,436 – R$3.4 million) was transferred from an unknown wallet to a #Top20 wallet.”

Going forward, the profile also points to several other even bigger deals. While one of these whales moved 300,000,000 DOGE (BRL 141 million)others moved equivalent to BRL 65 million, BRL 59 million, BRL 42 million and so forth.

Source: Live Coins

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