Cardano Founder Asks Does Elon Musk Own 20 of Dogecoins Total Supply

Charles Hoskinson, the founder of Cardano, recently suggested that Elon Musk may be holding 20% of the total supply of Dogecoin (DOGE).
During a discussion on the Thinking Crypto podcast on YouTube hosted by Tony Edward, Hoskinson jokingly questioned Musk’s fascination with Dogecoin. He pondered whether Musk’s interest in the meme coin was due to his significant DOGE holdings or simply his affinity for the coin’s logo.
This speculation about Musk’s potential Dogecoin ownership is not the first time his support for the cryptocurrency has raised eyebrows. In 2023, Musk faced a class action lawsuit from Dogecoin investors who claimed they suffered losses due to his promotional tweets. Musk has denied encouraging investments in Dogecoin, as previously reported by Crypto News Flash.
While owning 20% of Dogecoin’s circulating supply would equate to a substantial amount of money at current prices, it’s important to note that Hoskinson’s comment was made in jest. Although Musk has confirmed owning Dogecoin, the exact amount remains undisclosed.
Edward also raised the topic of potential collaborations between Cardano and Musk’s ventures, such as SpaceX, Tesla, and X. While Hoskinson acknowledged the potential benefits of such partnerships, he mentioned that there have been no discussions with Musk’s team. Despite reaching out for collaboration on various projects, Cardano has not received any response from Musk.
Hoskinson speculated that Musk’s advisors may be advising against interactions with Cardano, despite Musk’s involvement in the crypto space and his ties to Dogecoin and their mutual friend Lex Friedman.
In terms of Dogecoin’s price, it is currently trading at $0.1422 with a 1.7% decrease in the past 24 hours. The trading volume has also dropped by 45.8% to $645 million, with a market cap of $20.5 million. While investor sentiment for Dogecoin appears to be waning, market analysts remain optimistic about its future price trajectory.
According to Altcoin Sherpa, a pseudonymous crypto trader, Dogecoin’s price is expected to remain within the range of $0.12 to $0.17 until a potential breakout occurs.
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