According to analysts, the largest anonymous holder of Dogcoin DOGE, "Robinhood", may be Elon Musk himself, the address received a total of 41 billion DOGE from five addresses in three days from July 19 to 21, 2022, and the DOGE from these five addresses mainly came from Another address: DH5yaieqoZN36fDVciNyRueRGvGLR3mr7L, which had been thought to be Elon Musk's address.

According to the analysis, Elon Musk tweeted on February 10, 2021 that he had purchased DOGE for his son, and coincidentally, the "DH5ya" address was also accumulating DOGE on February 10. On April 28, 2021, Elon Musk claimed in a social media post that he had become "The Dogfather", and on that day the "DH5ya" address became the largest holder of 36.71 billion DOGE (28% of the total supply). Interestingly, the address received 28.061971 DOGE three times in 2021 on Elon Musk's birthday, and Elon Musk's birth date is June 28, 1971, so it is presumed that the actual holder of the address is Elon Musk.