• Contact Us
  • About Us
  • Privacy Policy
  • Login
Upgrade
Investment.Ceo
ADVERTISEMENT
  • Daily Investment
  • Investment
  • Entrepreneur
  • Wealth
  • Subscribe
  • Courses
No Result
View All Result
  • Daily Investment
  • Investment
  • Entrepreneur
  • Wealth
  • Subscribe
  • Courses
No Result
View All Result
Investment.Ceo
No Result
View All Result
ADVERTISEMENT
Home Investment

Someone – Or Something – Has Amassed Over $2 Billion In Dogecoin

A dogecoin "whale" owns 28% of the meme-based token, according to a report from the Wall Street Journal.

February 19, 2021
in Investment, News
0 0
0
Someone – Or Something – Has Amassed Over $2 Billion In Dogecoin
0
SHARES
73
VIEWS
Share on FacebookShare on Twitter

(Market Insider) – Records reveal that 28% of the cryptocurrency in circulation is owned by a single investor, though the person or entity has not been identified. The position is worth around $2.1 billion at current prices, WSJ reported.

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.

You might also like

The Opportunity Costs of Paying Off Your Mortgage Early

The Opportunity Costs of Paying Off Your Mortgage Early

3 days ago
8
5 Big Stocks In Unexpected Downtrends

5 Big Stocks In Unexpected Downtrends

3 days ago
597

The meme-inspired currency had been relatively under the radar compared to bitcoin. In 2021, however, it has been given the spotlight as celebrities throw their weight behind the cryptocurrency, whose mascot is the meme-famous Shiba Inu.

On February 9, Dogecoin jumped as much as 31% when Elon Musk and rapper Snoop Dog tweeted about the cryptocurrency.

The Tesla CEO has frequently tweeted about the cryptocurrency and even spoke about it on Clubhouse, an invite-only audio social media app, earlier in the month.

“Arguably the most entertaining outcome, the most ironic outcome, would be that Dogecoin becomes the currency of Earth of the future,” Musk said.

Some traders say that the 28% could point to several possibilities, including an exchange trading dogecoin or a single owner such as Musk himself.

On February 15, Musk said the problem is the concentration of dogecoin among a few holders. Musk once said he would help Dogecoin become the “currency of the internet.”

“If major Dogecoin holders sell most of their coins, it will get my full support,” Musk said in a tweet. “Too much concentration is the only real issue imo (in my opinion). I will literally pay actual $ if they just void their accounts.”

Dogecoin’s recent rally was driven partly by enthusiasm from Reddit users posting on subreddits including SatoshiStreetBets and WallStreetBets. Users say the goal is to send the token “to the moon” – or at least to $1 per coin.

ADVERTISEMENT
ADVERTISEMENT

“It’s only gained popularity recently due to the bull run that’s taken place across the crypto sector (namely ETH and BTC), creating hype and a sense of FOMO amongst mainstream investors,” Pavel Mateev, CEO of crypto card company Wirex told Insider.

As of Wednesday at 1PM E.T., dogecoin was trading lower by 5.26%, at $0.05279. The cryptocurrency’s market value, meanwhile, was $6.6 billion, according to CoinMarketCap, a price-tracking website for cryptocurrencies.

Tags: CryptocurrencyDogecoin
ADVERTISEMENT

Related Posts

2021 Market Will Develop in 10 Ways with Use of AI And Machine Learning
Investment

2021 Market Will Develop in 10 Ways with Use of AI And Machine Learning

March 4, 2021
9
7 Best Low-Risk Investments Right Now
Investment

7 Best Low-Risk Investments Right Now

March 4, 2021
16
Could 2021 Be One Of The Worst Years On Record For The Bond Market?
Investment

Could 2021 Be One Of The Worst Years On Record For The Bond Market?

March 3, 2021
63
What Happens When You Order A Cup Of Coffee In Bitcoin?
Investment

What Happens When You Order A Cup Of Coffee In Bitcoin?

March 2, 2021
71
The Opportunity Costs of Paying Off Your Mortgage Early
Investment

The Opportunity Costs of Paying Off Your Mortgage Early

March 2, 2021
8
5 Big Stocks In Unexpected Downtrends
Investment

5 Big Stocks In Unexpected Downtrends

March 2, 2021
597

Popular Post

  • Great Businesses Ideas You Can Start for Less Than $100

    Great Businesses Ideas You Can Start for Less Than $100

    0 shares
    Share 0 Tweet 0
  • Top 10 Most Common Financial Mistakes That Keep You Poor Forever

    0 shares
    Share 0 Tweet 0
  • Fiery Red Stocks, Goldman Sachs And JPMorgan Urged Investors To Catch The Bottom

    0 shares
    Share 0 Tweet 0
  • 10 Signals That You Really Should Be An Entrepreneur!

    0 shares
    Share 0 Tweet 0
  • What Is The Real Meaning Behind Reddit’s GameStop Stock Battle?

    0 shares
    Share 0 Tweet 0

Categories

ADVERTISEMENT
ADVERTISEMENT
Investment.Ceo

We bring you the best Premium Articles that perfect for entrepreneurs, investors, finance students, etc. Check our page for details.

Learn more

Categories

March 2021
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
293031  
« Feb    

Recent Posts

  • 2021 Market Will Develop in 10 Ways with Use of AI And Machine Learning
  • 7 Best Low-Risk Investments Right Now
  • 8 Personal Finance Apps of 2021 Are Highly Recommended

© 2020 Investment.Ceo - Investment Blog by Daily Investment.

No Result
View All Result
  • Daily Investment
  • Landing Page
  • Buy JNews
  • Support Forum
  • Contact Us

© 2020 Investment.Ceo - Investment Blog by Daily Investment.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.