A dogecoin "whale" owns 28% of the meme-based token. Records reveal that 28% of the cryptocurrency in circulation is owned by a single investor, though the person or entity has not been identified.
Th dogecoin or a single owner such as Musk himself. Musk once said he would help Dogecoin become the "currency of the internet.
The position is worth around $2.1 billion at current prices,according to a Wall Street Journal report.The cryptocurrency, which was created based on a "doge" meme, recently hit market capitalisation of $10 billion amid a Reddit-driven rally.
The currency, which started as a joke in 2013, recently topped a valuation of $10 billion, catapulting it to the same level as companies such as Shake Shack and Under Armour. On February 9, Dogecoin jumped as much as 31% when Elon Musk and rapper Snoop Dog tweeted about the cryptocurrency.
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