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Musk said Dogecoin may be related to insider trading

December 18, 2021
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Musk said Dogecoin may be related to insider trading

On December 18, according to WhaleStats, an on-chain data analyst, Musk announced on December 14 that Tesla’s peripheral products would accept Dogecoin in the first few hours. An anonymous user named “Jzi13k” initiated a Dogecoin transfer of up to 850 million U.S. dollars and transferred more than 5.3 billion DOGE. A few hours later, Musk’s “calling orders” behavior caused the DOGE price to soar by 30%.

Many community members believe that there is a correlation between Musk’s announcement that Tesla’s peripheral products accept DOGE and this huge transfer. The collection wallet was created to receive funds, and it has not been transferred after receiving the huge amount of DOGE. . Another user believes that someone within Tesla or someone closely related to the matter bought Dogecoin after knowing that Musk would “call the order” in order to obtain high profits from this transaction.

According to data from the cryptocurrency exchange Coinbase, Musk’s tweets about “Dogecoin” include a tweet calling it “people’s crypto” to help the currency’s price in the past one Soaring 5859% in the year.

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