Elon Musk Tweets: Whales Attack This Meme Coin!

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According to data provided by WhaleStats, the popular meme coin Dogecoin (DOGE) has become the most purchased token and the most used smart contract by the top 100 Binance Smart Chain (now BNB Chain) whales. This data came after an Elon Musk tweet. Here are the details…

Elon Musk will not sell BTC, ETH or DOGE

According to Whale Stats, BNB Chain whales trade the most Dogecoin (DOGE). This data comes after Tesla CEO Elon Musk confirmed via a tweet that he still has Bitcoin (BTC), Ethereum (ETH) and Dogecoin (DOGE) and has no plans to sell them. Musk shared a question on Twitter about his thoughts on the possible inflation rate in the next few years. Michael Saylor, CEO of MicroStrategy and a prominent Bitcoin bull, responded to Musk’s tweet:

US dollar consumer inflation will continue near all-time highs and asset inflation will see double the rate of consumer inflation. Weaker currencies will collapse and the flight of capital from stocks of cash, debt and value to scarce properties like Bitcoin will intensify.

“You were predicted to come to that conclusion,” Musk replied to Saylor. “As a general principle, for those seeking advice from this post, it is often better to have physical things like houses or stocks in companies that you think are making good products rather than dollars when inflation is high. I have Bitcoin, Ethereum, Dogecoin and I will not sell it at any cost,” he said.

Dogecoin did not surprise: its price increased with Musk tweet

Following that conversation, Dogecoin rose 3.9 percent to $0.116 before falling 1.2 percent in early trades. At the time of writing, Dogecoin is trading at $0.111, down 2.8 percent on the day, with a 24-hour trading volume of $481,556,136. Looking at WhaleStats data, we can see that Dogecoin is currently the 6th largest holding among the top 100 BSC wallets, holding DOGE worth $32,435,546.