3 Billion DOGE Moved to Unknown Wallet, Could it be Elon Musk’s?

  • A total of 3 billion DOGE made its way from Robinhood exchange to an unknown account.
  • This wallet now holds over 7,000 DOGE, making it the 2nd largest whale. 
  • Many are speculating the wallet to be owned by Elon Musk.

Robinhood exchange just saw the withdrawal of a huge amount of Dogecoin (DOGE) from its platform. Many crypto and memecoin fans are speculating that the huge Dogecoin (DOGE) transaction to have been made by Elon Musk. 

According to bitinfocharts, 3 billion Dogecoin (DOGE) has just been moved from a Robinhood exchange wallet. In addition, the funds have not been moved to another exchange. In fact, the $250 million worth of DOGE has settled into an unknown wallet. 

Earlier today, Tesla was exposed, the brand sold 75% of its Bitcoin (BTC) holdings. According to the buzz it caused on Twitter, the crypto community is quite stumped as to why Elon Musk agreed to sell Tesla’s Bitcoin holdings at a loss. 

While Tesla is still holding on to 10,000 Bitcoins (BTC), it is still quite a strange move in the eyes of many. However, the crypto community knows how much of a big fan Elon Musk is of Dogecoin (DOGE). Indeed, it is no big secret how much of a soft spot he has for the original memecoin.

Thus, many have come to the conclusion that the big Dogecoin (DOGE) fund moved from Robinhood exchange could likely be by Elon Musk. After all, there is no transaction indicating that Tesla sold DOGE.  

The wallet that now holds the moved Dogecoin (DOGE) is presently ranked as the 2nd largest whale. To highlight, this wallet currently holds 7,575 billion Dogecoin (DOGE) in total. This amounts to a total value of $523 million. 

On the other side of the crypto exchange story is the fact that many crypto exchanges have been freezing their users’ assets on the platform. This has taken away users’ ability to exercise control over their assets. 

These exchanges made the move to survive the crypto winter. Unfortunately, the move has also made traders and investors skeptical. Thus, many have begun to withdraw their crypto assets to hold them off of any exchanges. 

disclaimer read more

Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

A focused and vigilant storyteller for all things blockchain and cryptocurrency. Besides consuming every piece of literature about the metaverse, she can often be found at industry convections looking for the latest scoop.