WhaleStats, which monitors whale movements in the cryptocurrency markets, shared a transaction that could be linked to Elon Musk's Dogecoin statement. The $850 million suspicious transaction was made just before Tesla announced that it would accept DOGE in some product sales.
In the transaction appearing on the Dogecoin blockchain, it seems that funds were sent to 2 addresses. While the address “y3PvN” receives most of the DOGEs sent, there are currently 5 billion 350 million 593 thousand DOGEs at this address. While it is stated that the sending address has made large transactions many times in the past and may belong to a stock exchange, it is noteworthy that the receiving address makes purchases once.
As it will be remembered, Tesla and SpaceX CEO Elon Musk said on Twitter on Tuesday that Tesla company will release some products to be sold with DOGE and that they will control how the system will work for a while. After the announcement, Dogecoin experienced a 30 percent increase, but later returned to its old level with the decline in Bitcoin.
Some experts suggest that the transaction may have been made by a person working at Tesla who has knowledge on the subject. It is stated that the person who made the transaction may have made a large profit with his move before the announcement. However, the fact that DOGEs do not move to any stock market after they arrive at the address and there is no sales transaction makes this theory unrealistic. The fact that the person making the transaction does not receive a profit raises the question marks.
On Tuesday, when the announcement was made, Dogecoin was traded at $0.16 levels, and rose to $0.30 in a short time. The phenomenon coin is currently trading at around $0.19. Dogecoin peaked at $0.74 in the first half of 2021.