Whale Doge Coin Wallet
Last Balance : Doge Coins
This wallet Owns 29.32% of All Doge Coins
Date of creation : June 14, 2022
Movments/Dynamics (Tracking since July 19, 2022, 4:46 a.m.)This wallet is Buying since July 19, 2022, 4:46 a.m.
Comment on DPDLBAe3RGQ2GiPxDzhgjcmpZCZD8cSBgZ
Reddit Mentions Wallet DPDLBAe3RGQ2GiPxDzhgjcmpZCZD8cSBgZ
Reddit Thread : [ Dogecoin ] Post Title : What makes dogecoin special?
Date Posted : Aug. 1, 2022
Comment Text: According to Messari data, the Dogecoin network is grappling with a centralization problem. At first glance, over 4 million wallets holding DOGE would suggest otherwise. However, upon closer look, a troubling picture emerges. Over 95% of these wallets hold less than 1000 DOGE tokens($70 USD). This means that most of these tokens are concentrated in the hands of a few. To put the seriousness of the problem into perspective, one can refer to statistics. The top 1% of all wallets hold 95% of the total active supply. Moreover, the top 100 wallets account for 65% of the total coins. Meanwhile, just one wallet (DPDLBAe3RGQ2GiPxDzhgjcmpZCZD8cSBgZ) controls 30% of the supply. What if the holder decides to dump his holdings in the market? It would send the price of DOGE crashing down. These numbers are shocking because DOGE has been around for quite some time. With time, tokens should become more widely distributed, which is not the case with Dogecoin.