Tesla and SpaceX CEO Elon Musk said the only real problem with Dogecoin is the too high concentration of cryptocurrencies in a small number of wallets. He said he would support large DOGE holders if they decide to sell most of their coins.
Musk agreed with a comment from a user who called his message an ultimatum for the whales. According to the user, if they sell their holdings, Dogecoin will become the currency of the Internet. Otherwise, the project will lose Musk's support.
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Recently it was known more than 28% of Dogecoin coins are stored at the same address. Binance CEO Changpeng Zhao said over 50% of the total supply of the cryptocurrency is stored at 20 addresses.
The Dogecoin price has fallen by 15% over the past 24 hours.
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