Just 3 dormant addresses are behind 6% of Dogecoin (DOGE) market cap

2021-8-22 20:00

More than 8% of Dogecoin (DOGE) in current circulation rests in the top ten dormant addresses, BitInfoCharts’ data shows.

The blockchain data provider’s chart also reveals that the top three dormant addresses currently account for over 6% of the token’s total market capitalization.

Dormant Dogecoin addresses

The top three dormant addresses have jointly accumulated over 7,8 billion Dogecoin, roughly worth over $2,5 billion at the meme token’s current price.

The heaviest dormant address, holding $1,6 billion worth of Dogecoin, alone accounts for 3.8% of the token’s market cap.

The address saw its first and last outflow transaction in January 2014, when it sent 999.999 Dogecoin, worth roughly $153,831 at the time when the young token traded at $0.0009.

The other two addresses haven’t seen any outflow action since the start of their Dogecoin accumulation.

The second heaviest dormant address was opened in August 2014 and is currently sitting on $601 million worth of Dogecoin, while the third, holding a more modest $324 million sum originates back to June 2016.

In total, more than 8% of all Dogecoin in circulation are being held by the top ten dormant addresses, jointly accounting for a savory $3.29 billion portion of the token’s current $42.3 billion market cap.

Aggressive new investors 

Meanwhile, new investors, driven by the token’s growing popularity are chiming in strong.

Dogecoin newbies, which bought the token in the past six months now hold a quarter of its overall supply, “while investors who have held for more than two years decreased their share of supply from 30% in July 2020 to 20% today,” revealed the blockchain data platform Chainalysis in a recently published report. 

According to the exclusive on-chain analysis of Dogecoin, the meme token is “currently being adopted by new investors at a level not seen since the late-2017 bull market, with new investors increasing their share of supply from 9% in July 2020 to 25% in August 2021.” 

Despite the growing interest among the new investors, “with 106 billion Doge, 82% of supply, held by 535 entities,” Dogecoin ownership remains concentrated.

The post Just 3 dormant addresses are behind 6% of Dogecoin (DOGE) market cap appeared first on CryptoSlate.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Dogecoin (DOGE) на Currencies.ru

$ 0.1483 (-0.74%)
Объем 24H $1.643b
Изменеия 24h: -1.61 %, 7d: 0.09 %
Cегодня L: $0.145 - H: $0.1495
Капитализация $21.406b Rank 9
Цена в час новости $ 0.3159 (-53.05%)

dogecoin doge addresses dormant cap market behind

dogecoin doge → Результатов: 126


IntoTheBlock: Большинство держателей Dogecoin получают прибыль

В конце марта Dogecoin (DOGE) достигал $0,22, последний раз на таком уровне цифровая валюта торговалась в ноябре 2021 года. Однако уже в середине апреля DOGE упал $0,149. Только накануне вечером он смог вырасти до $0,150.

2024-4-19 00:01


300 Million Dogecoin (DOGE) Moved To Robinhood As Price Swells

The Meme-based cryptocurrency Dogecoin (DOGE) has recently experienced a significant increase in whale transactions during an improvement in the crypto asset’s price. 300 Million Dogecoin (DOGE) Dumped In Crypto Exchange Data from the on-chain crypto tracker Whale Alert recently revealed that a massive amount of Dogecoin (DOGE) was transferred to Robinhood.

2023-12-2 20:00