Research reveals that the holding of DOGE is highly concentrated, with 62% of the supply held by the top 50 Address.

Recently, a crypto assets rating agency published a research report that validated previous views on the over-concentration of DOGE. The agency compared DOGE with other mainstream crypto assets and found that DOGE is indeed one of the most concentrated tokens.

Data shows that over 28% of the circulating DOGE is concentrated in a single address, amounting to approximately 36.8 billion coins, valued at about 2.1 billion dollars at current market prices. More notably, nearly 50% of the DOGE supply is held by the top 20 holders.

The study also compared the concentration of other major crypto assets. Below is the percentage of circulating supply held by the top 50 addresses of each token:

  • DOGE: 62%
  • Litecoin: 30.5%
  • Bitcoin Cash: 24%
  • Bitcoin SV: 21%
  • Dash: 18%
  • Bitcoin: 10.5%
  • Ethereum: 45%
  • TRON: 34%
  • Terra (LUNA): 30%

The phenomenon of large holders possessing more than half of the DOGE supply has raised concerns in the market. This not only increases the risk of a 51% attack but may also lead to significant fluctuations in the Token price. Although these large holders may not currently have the motivation to sell, their ability to do so is enough to deter some potential investors.

This highly centralized holding structure may impact the long-term development prospects of DOGE. It not only relates to network security but also involves the health of the market and the stability of token value. To promote the sustainable development of the DOGE ecosystem, measures may need to be taken to reduce the concentration of holdings and increase decentralization and participation.

DOGE6.29%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 4
  • Repost
  • Share
Comment
0/400
GateUser-44a00d6cvip
· 12h ago
Which suckers are still buying the dip?
View OriginalReply0
GhostAddressMinervip
· 12h ago
As expected... Having seen the black history of those addresses, they should have long been listed on the threat monitoring list.
View OriginalReply0
PancakeFlippavip
· 13h ago
Wuwu suckers are panicking.
View OriginalReply0
OptionWhisperervip
· 13h ago
Playing with fluctuations until I vomit.
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)