Dogecoin (DOGE), the world’s first meme cryptocurrency has been making headlines following Donald Trump’s victory. The asset and its backing from major figures like Elon Musk has garnered DOGE investors promising gains. While the meme coin has been receiving high-profile endorsements, the real question is how much of DOGE does Musk really own?
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Looking Into Elon Musk’s Dogecoin Stash
Back in January 2024, the wealthiest man revealed that he owns a “bunch of Dogecoin.” In addition, he also noted that SpaceX owns a “bunch of Bitcoin.” While he remained discrete about his total holdings, the internet had several theories.
A bunch could mean six figures worth of DOGE or even less. Musk may even be a mystery Dogecoin whale with more than 36 billion tokens, according to a theory. Approximately 28.27% of the DOGE in circulation is owned by this wallet. Some contest this assertion, claiming Musk opposes cryptocurrency held by a small number of people.
It should be noted that the Tesla CEO, who has long been a proponent of the meme cryptocurrency, is referred to as the Dogefather for a reason. He previously disclosed that, in addition to Bitcoin and Ethereum, he owns DOGE. Musk declared in June 2022 that he will continue to support and purchase Dogecoin.
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The OG Meme Coin’s Recent Ascent
Dogecoin over the past 30 days witnessed a 173% rise. The meme coin rose to a high of $0.4237. At press time, DOGE was trading at $0.3881 following a 7% rise throughout the last 24 hours.
If the meme coin continues its hot streak, it might reach its all-time high of $0.7376. The asset reached this peak about four years ago, in 2021. Currently, Dogecoin remains 47% below this high. The OG meme cryptocurrency has been trying to move forward and reach $1, which is much beyond its all-time high.
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