Recently, unknown whales have dumped around 3 billion Shiba Inu meme coins in astonishing quantities of 4 million DOGE and more. This occurred when interest in Dogecoin reignited as a result of Elon Musk’s return to his acquisition of Twitter.
The Dogecoin tracker said that anonymous whales moved a total of 2,768,293,846 in lump sums of two million coins and more last week. There were around 90 transactions overall as they shifted these dogecoins for a total cost of 142 DOGE ($9 USD).
Last week, it was revealed that Tesla CEO and billionaire Elon Musk had renewed his previously stalled effort to buy Twitter for $44 billion. That announcement sparked renewed interest in Dogecoin, as Musk hinted earlier this year that DOGE might be used to pay for Twitter Blue memberships.
Musk is a well-known supporter of DOGE, and his tweets are constantly used to drive the coin’s price up.
In them, Musk repeatedly referred to Dogecoin as “the money of the people” and pledged to send DOGE to the moon. Tesla has been accepting DOGE as payment for its merchandise in its online store since January of this year. In the spring, SpaceX did the same.
Elon Musk apparently changed his mind about purchasing Twitter. And since then – the crypto world – particularly Dogecoin, is benefiting from the terms of the world’s richest man acquiring the social media network.
Elon Musk and the Twitter board of directors debated the purchase of the platform a few months ago.
After months of discussing the values and almost seeing the deal rupturing, a representative for Twitter said the firm has received the proposal and that “the company’s intention is to finish the deal at US$54.20 per share” – the sum committed by Mr. Musk in April.
Twitter’s shares rose more than 20% to more than $52 per share, representing a US$25 billion acquisition.