2021-05-24 21:07:32
A crypto expert is figuring out who might be behind the $ 12 billion dogecoin whale address.
The story of the world's largest holder of dogcoin may be less interesting than social media investors and Elon Musk fans would like.
Core developer Dogecoin told Insider that the so-called whale address is likely owned by a cryptocurrency exchange.
However, it is impossible to reliably verify the owner of the whale's address until they report.
The story of the world's largest dog-coin holder may be less interesting than social media investors and Elon Musk fans would like.
Since the dogecoin rally this year, news outlets (including Insider) and investors have speculated who might be behind the $ 12 billion dogecoin address:
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Since 2019, it has amassed 36.7 billion dogecoin and accounts for about 28% of the total dogecoin supply.
While it's funny to assume that the address belongs to one person who secretly amassed billions of dollars in meme currency, it is more likely that the address is related to a cryptocurrency exchange, said Patrick Lodder, the main developer of Dogecoin.
Regarding the fun additions to the address, such as adding 420.69 dogecoin to the account on Tuesday, Lodder said they were probably just pranksters sending relatively small amounts of dogecoin to the famous whale address for fun
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