To answer this question, we have to understand what a whale is in cryptocurrency. A crypto whale is a person or institution that has (hodling) a lot of a particular crypto coin. In this case, if she is a DOGE whale, the amount would be higher because of dogecoin’s low market price. So, why would people think Angela White is a dogecoin whale?
How Angela White and DogeCoin
Like almost everything in today’s generation, it all started with a single tweet. Angela White, popular for her roles in the adult film industry, tweeted to her 1.3 Million Followers on January 2nd 2021 about the altcoin. She said that she has been patiently holding onto her Dogecoins since 2014.
In the tweet, Angela paid homage to Shiba Inu, the dog that inspired dogecoin’s creators to make the meme coin. The tweet went viral and in DOGE’s value shot up by 125%. It went up to 0.0135 cents from 0.0057 cents, more than double its value in 2.5 days.
The Impact of Influencers to Dogecoin
It is amazing how much power anyone with a lot of followers on the internet has nowadays. A person that has built trust among their followers can greatly influence their decision with just a single well-placed tweet. In this case, Angela’s risqué photo, wearing a Dogecoin T-shirt made people take notice of the altcoin. Therefore, her followers immediately went out and bought some DOGE. This in turn made other Dogecoin investors want to capitalize on the dogecoin’s market expansion. This traction led to a surge in dogecoin price.
She’s not the only influential figure to sway people’s buying habits about Dogecoin. On December 20th Elon Musk simply tweeted; “One word: Doge”. TikTok, the viral video platform, also encouraged its users to invest in Dogecoin through a series of viral videos. The coin’s volume shot up by 1,900% in the summer of 2020.
The reason the price of any cryptocurrency will always depend on the number of people who are interested in it. The more the interest, the higher the value. In this case, an influencer’s following will account for the interest, therefore, driving the value of the crypto up. This concept called the viral feedback loop was conceived by Satoshi Nakamoto, Bitcoin’s creator.
Dogecoin itself was created as a joke, mocking the viral video of the Shiba Inu dog speaking broken English. The reason it exists is that the creators took advantage of the meme’s traction. Their satirical invention was to expose people’s mindless investment in crypto without fully understanding it. It was a joke yet its growth was based on the herd mentality they were trying to mock. How Ironic!
Bottom Line
So, is Angela White a DOGE whale? Nobody knows how much she has invested in the altcoin, therefore it’s impossible to know for sure. But if she invested about $100 in 2014 and she has never sold any of her coins, she is a whale. Therefore, her coins would be over 450,000 and worth well over $250,000, making Dogecoin a sound investment.