Mysterious Dogecoin Whale Moves $930,000 in $DOGE After Musk Steps Down as Twitter CEO
A mysterious Dogecoin ($DOGE) whale has transferred over 13 million tokens of the meme-inspired cryptocurrency in a series of transactions that came shortly after Tesla and Space X CEO Elon Musk announced his intention to install a new CEO for the microblogging platform Twitter.
The DOGE whale moved the 13 million tokens, worth over $927,000 at the time of the transaction, from different multiple wallets to a newly created wallet, in a series of transactions that cost them just 3.63 DOGE in fees, equivalent to $0.26.
These developments surfaced against the backdrop of Musk’s departure from the CEO position of Twitter, as the enigmatic entrepreneur recently revealed that Linda Yaccarino, NBCUniversal’s current head of global advertising, will head the microblogging platform.
Also read: Is Dogecoin Dead? Analyzing the Future of the Popular Meme Cryptocurrency
Musk said he will still have a key role at Twitter, posting that Yaccarino will handle business operations while he will focus on product design and new technology.
Before announcing Yaccarino’s appointment, Musk had also posted that he would become executive chair. Musk also said on Friday that he was excited to work with Yaccarino on turning Twitter into X, the “everything app” similar to China’s versatile WeChat.
Notable movements have been occurring on the Dogecoin blockchain over the last few weeks. As CryptoGlobe reported, an inactive DOGE address with 1.5 million tokens has recently reemerged after remaining dormant for 9.3 years.
As reported, tens of billions of tokens of the meme-inspired cryptocurrency are now being held by long-term investors, as entities that have been HODLing onto the cryptocurrency for over a year now have 44.8 billion tokens, worth over $3.7 billion.
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