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This DOGE whale has been accumulating since June 2021, now has 112m tokens and hasn't sold a single coin [address in the comment]
Dogecoin
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Prestospin
1y
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This DOGE whale has been accumulating since June 2021, now has 112m tokens and hasn't sold a single coin [address in the comment]
i.redd.it/d87wyfeyl9ib1.jpg
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L
Lykshares
1y Staff
Holy cow! Thats a lot of coins of Doge! Kudos to him for have 8mil+ worth!
9 Likes
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L
Lykshares
1y Staff
***This wallet likely belongs to a financial institution holding Doge in custody for its clients.*** For example, Robinhood and WeBull both use this custody method for all of their clients' crypto. Those brokerages also have multiple cold and hot wallet addresses.
There are also various hedge funds, private equity, and sovereign
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wealth funds that could be holding this wallet. Therefore, it is not reasonable to automatically assume this wallet belongs to a single individual.
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L
Lykshares
1y Staff
Judging by the address, his avg buy price is around 0.27$, which makes the total amount of investment around 30.6m and he's down around 70% from the initial investment
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