Elon Musk has weighed in on the identity of the largest Dogecoin whale
Tesla CEO Elon Musk has weighed in on the identity of the top Dogecoin (DOGE) holder, tweeting that it is likely to be commission-free trading app Robinhood.
As reported by U.Today, Musk took a shot at Dogecoin’s unequal wealth distribution last week, causing its price to drop 20 percent.
He even went as far as offering cash to the top holders of the meme-inspired cryptocurrency.
As of now, Dogecoin is the 13th largest coin with a market cap of $7.3 billion.
Robinhood is facing mounting pressure
Robinhood faced immense backlash after restricting GameStop trading when the darling of “yolo” traders was hitting all-time highs in late January.
Musk personally clashed with Robinhood founder Vladimir Tenev during a Clubhouse interview in early February:
Did you sell your clients down the river, or [did] you have no choice?
Some members of the Dogecoin community found out that Dogecon’s top wallet is likely Robinhood’s cold storage last week.
With Musk chiming in, pressure is mounting on Tenev to bring more transparency to the table.
The richest Dogecoin address currently holds 28.69 percent of all coins.