Dogecoin spikes after Elon Musk says he bought some for his infant son
Dogecoin spikes after Elon Musk says he bought some for his infant son.

The address might be Elon Musk’s wallet

The founder of Tesla, Elon Musk, has been one individual who has created a lot of hype around the meme-based crypto asset.

But Musk hasn’t been the only one, as people have placed signs in Times Square in New York telling people in the city they should “buy DOGE.” On social media, there are many dogecoin fans shilling the token relentlessly in an attempt to get the price to $1.

Mysterious Dogecoin address sending binary code to Elon Musk: Who behind? What the code means?

News Bitcoin reported around mysterious dogecoin wallet that absorbed more than 27% of the coin’s supply since February 6, 2019 and this week the wallet with $3 billion worth of the crypto asset has been creating odd transactions with binary messages.

On April 2, Musk said: “dogecoin might be my fav cryptocurrency”. Since then, the dogecoin address has managed to gather around 36.8 billion DOGE worth $3 billion today. In more recent days, speculators have assumed that the billion-dollar dogecoin address belongs to the Tesla founder.

However, decrypt opens a different scenario that the address could belong to a very big fan of Musk—or simply someone with a good sense of humor about the whole thing.

What does the code mean?

As picked up on Reddit, the wallet, whose owner holds $2.8 billion of the coin, or 36.8 billion Dogecoin, and is the biggest bag holder on the network, yesterday placed 20 transactions for 28.061971 DOGE.

No coincidence, surely, that this mirrors the day Elon Musk was born: 28th June, 1971.

Mysterious Dogecoin address sending binary code to Elon Musk: Who behind? What the code means?

Then on Reddit, via the subreddits r/cryptomarkets and r/dogecoin, people have been discussing the mysterious address once again. People have begun to notice that the owner of the address has been sending odd transactions, some of which can be transcribed into binary code.

One person who tried to figure out the binary code message said he couldn’t translate it, and that a lot of it was “gibberish.”

One Redditor wrote: “It’s not gibberish, I’ve gone through some of it and already found this: ?NOLEUOYTISI”.

How Elon Musk reacts?

Musk then tweeted about the meme currency again in another tweet that involved his baby son named “X Æ A-12.”

“Bought some Dogecoin for lil X, so he can be a toddler hodler,” Musk tweeted to his followers with a video of his boy. Additionally, Musk tweeted a meme that said “one coin to rule them all,” with a picture of the hobbit’s ring from the J. R. R. Tolkien story “The Lord of the Rings.”

Musk said: "Frodo was the underdoge, All thought he would fail, Himself most of all."

Dogecoin is a decentralized, peer-to-peer digital currency that enables you to easily send money online. Think of it as "the internet currency." Webside of cryptocurrency: https://dogecoin.com.

Dogecoin—the cryptocurrency based on a meme about an over-enthusiastic Shiba Inu dog—reached an all-time record price of 4 cents on Thursday evening. That represents an incredible fivefold increase over the preceding 24 hours. The cryptocurrency was trading for less than a penny on Wednesday evening

Dogecoin's rally appears to be connected to the WallStreetBets phenomenon. The subreddit WallStreetBets has been the nerve center of an online movement to pump up the value of GameStop and a handful of other stocks in an effort to bankrupt hedge funds that had taken big short positions in the stocks. GameStop's value has risen nearly fivefold since the start of the week—and more than sixtyfold since last summer.
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