Billionaire Elon Musk Sends Dogecoin (DOGE) Surging As Whales Gobble Up Dog-Themed Crypto Assets
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Business magnate and Tesla CEO Elon Musk is once again tweeting about meme crypto asset Dogecoin (DOGE), sending its price soaring.
The billionaire tells his 71 million Twitter subscribers that if fast-food titan McDonald’s accepts DOGE as payment for its products, he will consume a Happy Meal on television.
“I will eat a happy meal on TV if McDonald’s accepts Dogecoin.”
The tweet sent Dogecoin on a rally from a seven-day low of $0.126 to a peak of $0.151, a 20% increase. The original memecoin has since stabilized and is trading for $0.142.
Though the Golden Arches jokingly replied and expressed disinterest, crypto whales operating on Ethereum-challenger Binance Smart Chain (BSC) have sprung to action and are snapping up dog-themed digital assets at a fast rate.
According to whale-surveying bot WhaleStats, deep-pocketed investors on BCS are accumulating DOGE, and its competitor hyper-deflationary token Baby Doge Coin (BABYDOGE), at a record pace.
WhaleStats finds that the top 1,000 Binance Coin (BNB) wallets in the world are holding a combined 325 million DOGE worth about $48 million and a staggering 937 trillion BABYDOGE, worth nearly $4 million at time of writing.
The whale-watching platform also found that the dog-themed meme tokens set new records in terms of how many long-time holders they have on the Binance Smart Chain. The data shows that there are now over 470,000 long-term DOGE holders while BABYDOGE has reached 1.3 million.
Baby Doge Coin is exchanging hands at $0.0000000042 at time of writing, a 29.5% decrease from its seven-day high of $0.0000000059.
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