The thought crossed my mind but they have been sending billions of DOGE there, phenomenal amounts yet those amounts involved just do not seem like exchange type behaviour. This seems to be somebody who is trying to own as much DOGE as he can.
The current balance on that address is: 28,361,817,691 DOGE
CMC shows there approximate amount in circulation: 127,942,437,987 DOGE
CMC shows: 28,361,817,691 DOGE x $0.009449 current price are worth around: $267,990,815
An example: 28,361,817,691 DOGE x $0.01 are worth around: $283,671,176
An example: 28,361,817,691 DOGE x $0.0125 are worth around: $354,522.712
Just $0.01 increase in DOGE price makes the owner $280 million richer because of the amount they hold.
If there are 127 billion DOGE circulating and just one address has 28 billion DOGE, that is a huge colossal amount of the whole circulation. Imagine holding so much of one particular crypto that if the price went up by just $0.25 you would be looking at your holding worth over $7 million more. Much wow....
I see no reason that provides any conclusive evidence that Musk is the owner of that address (DH5yaieqoZN36fDVciNyRueRGvGLR3mr7L) but the numbers involved are staggering.
Could that much address belong to a very exchange trading platform of some sort?