A dogecoin whale (term used in referring to a holder of a large quantity of a cryptocurrency), recently made a meager purchase of the crypto in a move some consider as a means of sharing the meme coin’s sense of humor.
According to blockchain data, DH5yaieqoZN36fDVciNyRueRGvGLR3mr7L, the address holding 36.7 billion coins, only purchased 420.69 dogecoins on Thursday.
The move, from an entity with such crypto status, came as a shock for many people especially because with dogecoin exchanging just over $0.33, the whale could have accumulated so much more.
Numbers embedded in meme culture
The purchase was only worth $165, but some believe there is a deep meaning attached to the move of the dogecoin whale, at least for the meme culture.
The number “420” could be referring to cannabis or the act of smoking cannabis and “69” denotes a sexual intercourse position. Regardless, the move has already caught the attention of many crypto analysts and pundits that have also seemed to be bothered as to why the act was carried out.
No one knows who the whale is, but the entity is currently sitting on a $15 billion stack as of today which accounts for nearly 30% of dogecoin’s $51 billion market capitalization. It was even worth over $30 million when the crypto recorded its all-time high of $0.73 earlier this month.
Others think the whale is Elon Musk
As it would seem, there’s no discussion about dogecoin that won’t involve Tesla’s Elon Musk.
Some users on the online forum platform Reddit think the whale could be Elon Musk as he has both money and love for memes evidenced by his frequent mentions of the crypto on Twitter.
The business mogul has previously said dogecoin is bound for the moon and has even purchased some of the meme coins for his youngest child and has allowed his company SpaceX to accept the crypto as payment for a space mission.
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