buyers stay curious of a — or one main investor — who’s holding all the playing cards with . However one suspect just lately denied any involvement.
Who’s the Dogecoin whale?
reported again in February that there was one individual — or enterprise or entity — that owned 28% of all dogecoin on the market at the moment. The worth of dogecoins at that second would have made the funding price $2.1 billion.
- That quantity is now price $2.5 billion, in response to .
, chief scientist and co-founder of Elliptic, advised he thought Robinhood was the only real proprietor of that stake.
- “It nearly actually belongs to Robinhood,” . “The timing of its creation, and the creation of the addresses that it acquired funds from, match the timing of Robinhood’s help of Dogecoin.”
However, CEO of Robinhood Markets, just lately dispelled that rumor in a presentation hosted by
- “Any cash that we maintain are for the needs of form of offering entry in holdings for our clients,” Tenev mentioned, in response to . “We don’t have vital positions in any of the cash that we carry on a proprietary foundation or something like that.”
The Dogecoin ‘whale’ concept, defined
A concept amongst buyers steered that there’s a single, rich investor — known as a “whale” — who’s suppressing the worth of Dogecoin, as I wrote for the Deseret Information.
Some buyers on Reddit imagine “thatby promoting off hundreds of thousands of the tokens each hour,” in response to .
- “DOGE buyers on the discussion board are shopping for into the concept that one giant whale is liable for the value suppression concept,” in response to
However then there’s the opposite facet of the idea, which posits that the “whale” sell-off is definitely simply buyers cashing out when Dogecoin reaches a excessive worth, as I defined for the.