After Donald Trump's victory, the world's first MEME cryptocurrency Doge (DOGE) became headline news. The asset and its support from big figures like Elon Musk have brought handsome returns for Doge investors. Although this MEME coin has been receiving high-profile support, the real question is how much Doge does Musk actually own?
Investigating Elon Musk's Doge Holdings
As early as January 2024, the world's richest man revealed that he owns "a bag of Doge". Additionally, he pointed out that SpaceX owns "a bag of Bitcoin". While he remains cautious about disclosing his total holdings, there are several theories circulating on the internet.
A "bag" could mean a six-figure worth of Doge, or even less. One theory suggests that Musk might even be a mysterious Doge whale, holding over 36 billion tokens. This wallet holds around 28.27% of the circulating Doge. Some have questioned this claim, arguing that Musk opposes the concentration of crypto assets in the hands of a few.
Notably, the Tesla CEO, who has long been a supporter of MEME cryptocurrencies, is dubbed the "Dogefather" for a reason. He previously revealed that in addition to Bitcoin and Ethereum, he also owns Doge. Musk announced in June 2022 that he will continue to support and buy Doge.
The Recent Rise of the OG MEME Coin
Over the past 30 days, Doge has surged by 173%. The MEME coin reached a high of $0.4237. As of the time of writing, Doge is trading at $0.3881, up 7% in the past 24 hours.
If this MEME coin continues to maintain its momentum, it could reach its all-time high of $0.7376. The asset reached this peak value around four years ago in 2021. Currently, Doge is still 47% below this high point. The OG MEME cryptocurrency has been striving to move forward and reach $1, far exceeding its historical high.
