With the continuous support from Tesla founder Elon Musk, endorsing the crypto meme since February 2021, cryptocurrency Dogecoin’s value has been boosted. The current value of joke coin, having the image of a Shiba Inu dog is currently $0.339764, according to coindesk.com.
The crypto trading website even says that the crypto Dogecoin’s market capitalisation is about $43.96 billion. Created by Jackson Palmer and Billy Markus in 2013, the joke coin entered market to satirize the growth of altcoins by making the doge internet meme into a cryptocurrency.
Like most of the cryptocurrencies, Dogecoin is also marred with ‘whales’, which is few people holding the majority of the coins.
Bitcoin jumps 12% as Elon Musk hints change in position on environment impact of Bitcoin mining, asks for ideas to develop Dogecoin
So what is do ‘whales’ mean in cryptoworld?
Is Musk the crypto ‘Whale’?
Despite recent incidents one cannot find out who this Dogecoin ‘whale’ is unless the person himself or herself decides to come out. However, speculations are rife that Musk is the Dogecoin ‘whale’.