Dogecoin Developer Debunks Elon Musk Holdings Speculation

Dogecoin Developer Debunks Elon Musk Holdings Speculation

In a recent social media post, Mishaboar, a notable Dogecoin contributor, debunked speculation about Elon Musk’s Dogecoin holdings. Denying Musk’s ownership of a significant portion of Dogecoin, Mishaboar corrected a prevalent misconception from the previous bullish market cycle.

Dispelling Misinformation

Mishaboar highlighted a crucial piece of misinformation that circulated during the peak of Dogecoin’s popularity. He pointed out that influential figures, including Changpeng Zhao (CZ), the former CEO of Binance, and certain “genius” YouTubers, perpetuated the false claim that a single whale held 30% of Dogecoin’s total supply. However, the developer clarified that this whale was actually the cold wallet of an exchange, specifically Robinhood, containing holdings belonging to its users.

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The Dogecoin enthusiast emphasized the importance of conducting independent research and cautioned against blindly trusting authority figures or market leaders. Furthermore, Mishaboar indirectly addressed comments made by Changpeng Zhao (CZ), the former CEO of Binance, regarding Musk’s purported Dogecoin holdings.

Addressing Discord Between Musk and Zhao

While CZ had insinuated Musk’s awareness of such holdings, Mishaboar suggested a broader context of discord between Binance and Dogecoin, emphasizing issues with withdrawals and alluding to strained relations between Elon Musk and CZ. 

Related article: Unveiling Dogecoin’s Path to $1: Insights from Whale Transactions

Mishaboar hinted at discord between Elon Musk and CZ, with Musk raising concerns about Dogecoin withdrawals on Binance through cryptic tweets in response to a follower’s inquiry.

Mishaboar encourages DOGE enthusiasts to question narratives from media and industry figures, urging scrutiny and consideration of centralized exchanges’ practices. By promoting critical thinking and independent research, Mishaboar empowers the Dogecoin community to navigate the cryptocurrency landscape more effectively.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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