You may have noticed that on Monday the Twitter logo was suddenly changed to the Dogecoin (DOGE) logo. The crypto market reacted immediately and DOGE’s price rose by more than 30 percent in a short time. It is likely that Twitter CEO Elon Musk is behind the event. The Dogecoin hype is back in full swing and there are rumors that Musk owns a wallet that once held $24 billion worth of DOGE.
Who is the owner of the largest holder of #DogeCoin?
Maybe @elonmusk.
Even though @bitinfocharts tagged $DOGE‘s largest holding address as “Robinhood”, I still think it’s Elon Musk’s address.
1.🧵
Here’s some evidence. pic.twitter.com/j0nl4c4FOQ— Lookonchain (@lookonchain) November 1, 2022
Mysterious DOGE wallet
How does this work? A lawsuit against Musk has been ongoing since June 2022. Duped investors believe that Musk deliberately manipulated DOGE’s price and disadvantaged investors. He is said to have done this, among other things, with his tweets about Dogecoin and his appearance on the TV show Saturday Night Live.
The prosecutors have as proof of Musk’s premeditation the existence of the wallet “DH5ya” supplied. The Dogecoin wallet DH5ya once held $24 billion in DOGE, and if it’s up to the duped accusers, it’s Elon Musk’s personal wallet.
Musk’s lawyers deny this theory. According to them, the wallet is managed by investment platform Robinhood, a major owner of Dogecoin. In turn, Robinhood has neither denied nor confirmed this. Currently, the wallet only contains 50 thousand DOGE. However, in May 2021, this was $24 billion worth of Dogecoin.
Another joke from Elon Musk?
However, the claim of the prosecutors about the wallet does not come out of the blue. There are a number of separate coincidences that form a connection with Musk. For example, the wallet once made a transaction of 28.061971 DOGE. Let Elon Musk’s birthday be June 28, 1971. There were also six transactions with 69 coins, and two with 420 coins. As those in the know will know, these are both well-known meme numbers and Musk is sensitive to that.
Also, one transaction contained 80085 coins, an old joke that when flipped on a calculator resembles the word Boobs. According to the prosecutors, these are all examples of Musk’s lame form of humor, and it must be that Musk is behind this. Musk’s lawyers believe the charges are too vague to be taken seriously and have asked the judge to dismiss the case outright.