Explained | What is crypto ‘whale’, who manipulates cryptoworld and other questions answered – Moneycontrol.com

Explained | What is crypto ‘whale’, who manipulates cryptoworld and other questions answered – Moneycontrol.com

Dogecoin has grown by more than 130 times in 2021.

Dogecoin has grown by more than 130 times in 2021.

With the continuous support from Tesla founder Elon Musk, endorsing the crypto meme since February 2021, cryptocurrency Dogecoin’s value has been boosted. The current value of joke coin, having the image of a Shiba Inu dog is currently $0.339764, according to coindesk.com.

The crypto trading website even says that the crypto Dogecoin’s market capitalisation is about $43.96 billion. Created by Jackson Palmer and Billy Markus in 2013, the joke coin entered market to satirize the growth of altcoins by making the doge internet meme into a cryptocurrency.

Like most of the cryptocurrencies, Dogecoin is also marred with ‘whales’, which is few people holding the majority of the coins.

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So what is do ‘whales’ mean in cryptoworld?

Individuals who hold large amounts of coins of a certain cryptocurrency are known as whales in cryptoworld. As they hold large amounts of
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