Dogecoin has been the talk of the cryptocurrency city for months and lately crypto enthusiasts have been discussing the biggest holder in the Dogecoin economy. An address with 36.7 billion dogecoins recently amassed 797 DOGE this week and 3,755 coins last month. Crypto speculators believe this wallet is a huge whale, while others have speculated that it was Elon Musk or the Dogecoin cold room of the Robinhood trading platform.

Random Whale, Elon Musk or Robinhood? Why Dogecoin DH5ya address is still an unsolved mystery

The cryptocurrency dogecoin has had a phenomenal year so far in 2021, as the very coin that features the face of the dog Shiba Inu has gained 15,617% to date against the US dollar. In recent times, dogecoin hit an all-time high at $ 0.73 more than 13 days ago, but has since fallen roughly $ 0.36 per unit. Despite the crypto market’s rout over the past week, dogecoin (DOGE) held up well and is still up 25% over the past 30 days. However, one of the biggest complaints about the economy of dogecoin is the massive amount of whale addresses DOGE currently has.

Yeah

– Elon Musk (@elonmusk) February 15, 2021

A specific address is famous for various reasons, and the main reason is that the dogecoin address “DH5ya»Is by far the largest owner of DOGE. The owner of this address is a mystery, although a large number of Reddit r / dogecoin forum members believe otherwise.

For example, the address of dogecoin DH5ya was the subject of endless discussion in early 2021 on the r / dogecoin forum. Three months ago the Redditor called “u / andreifromaberta” posted about the mystery of the DH5ya address being “solved”.

The person who started the thread notes that they believe the address belongs to Robinhood, the stock and cryptocurrency trading platform. Basically, Redditor Andrei thinks it all started on June 26, 2018 and says, “Robinhood Crypto begins preparations for the launch of dogecoin trading by creating the DQA5 address. Andrei thinks the DQA5 address is Robinhood’s hot wallet, while the DH5ya address is a cold wallet. With over 4,100 upvotes on Reddit, the “Mystery Solved” thread was popular and widely held theory.

Dogecoin Whale address still making headlines, address spends 100 billion DOGE on 21 transactions worth over $ 40 million

Despite the theory that many people believe, no one is really sure that DH5ya DOGE the address is Robinhood’s wallet. The DH5ya address is always securities in cryptocurrency posts to this day, and people are still speculating on its movements.

At the time of going to press, the DH5ya address is still the richest dogecoin address, because it currently contains 36.7 billion dogecoins (DOGE). 797 DOGE was obtained by the owner of the address in the last seven days and he also collected 3,755 coins in 30 days. Since the address was created, it has only sent 21 separate transactions out of the wallet, but has received a total of 1123 inbound transactions.

DH5ya DOGE address sent a total of 100,434,958 DOGE worth over $ 40 million using current dogecoin exchange rates. Tesla CEO Elon Musk has been a strong supporter of dogecoin and in mid-February he tweeted that he “will literally pay [dollars] if they simply cancel their accounts. The Tesla CEO also added that “too much focus is the only real problem” with the DOGE ecosystem.

Robinhood CEO Vlad Tenev discusses the company’s crypto positions

This May has shown the public that the assumptions about the address of the DH5ya whale belonging to Robinhood may be wrong and just speculative.

Despite all chair detectors pointing to fortuitous evidence that DH5ya’s speech is Robinhood’s, Robinhood Markets CEO Vlad Tenev put an end to this speculation on May 6. “Cat by the fireside.” Tenev said the company only allowed clients access to their specific holdings and further said:

We don’t have significant positions in any of the coins that we hold exclusively or anything like that.

Because no one can officially confirm that the DH5ya address is Robinhood’s DOGE chiller wallet, the owner of the address remains a complete mystery. Some people will still believe that the address belongs to Musk himself, while others will still wholeheartedly believe that the address belongs to Robinhood.

A quote from Tom Robinson, co-founder of blockchain watchdog firm Elliptic, who posted in Bloomberg in February, notes that the dogecoin address DH5ya was created in June 2018 and that Robinhood actually invoked DOGE transactions the following month.

What do you think of the dogecoin DH5y mystery address? Let us know what you think of this topic in the comments section below.

Image credits: Shutterstock, Pixabay, Wiki Commons, bitinfocharts, Twitter, r / dogecoin subreddit,