The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
Dogecoin

Majority Of Dogecoin Supply Owned By Only 0.01% Of Holders

by Miki 08/28/2021
by Miki 08/28/2021 0 comment

Dogecoin was recently added by Chainalysis to their crypto reports. This saw the data platform collating information like on-chain data from the meme coin. The report showed upon release showed holding patterns of Dogecoin investors. As well as transaction data relating to individual wallets. The coin which had seen a lot of growth due to TikTok and billionaire Elon Musk showed some big disparities between holders.

New Investors Only Hold 25%

The data from the report showed that new investors had been increasing their holdings over time. As of July 2020, new investors only held9% of the total supply. But this number had risen to 25% in 2021 following the popularity of the coin. Data shows that new investors were increasing their holdings in Doge. While old investors had decreased their holdings during the rally.

Related Reading | Dogecoin Holders Can Now Buy A Tesla Using DOGE

Old investors in this case were grouped as investors who had held on to their Doge for more than two years. These investors had accounted for 30% of the total supply back in July 2020. And today, that number has dropped down to 20%. This is expected in an asset that spent a long time in a bear. Investors look to take profits once there is a significant uptick in the price of the asset.

chart showing trend of active daily Doge users

Daily active Doge users rose in 2021 | Source: Chainalysis Dogecoin Report

Dogecoin also experienced a major increase in the number of daily active users in 2021. This number has grown with the price of Doge. Peaking at the all-time high, before correcting downwards as the coin price crashed. On average, on-chain data shows that there are 32,000 daily active users of the meme coin.

Minority Holds Majority Dogecoin Supply

There are currently 4 million Dogecoin holders. But surprisingly, the large majority of this number own the smallest share of Doge supply. The data shows that 2.1 of total holders hold less than 100 Doge in their wallets. While the majority of the coins are held by large entities.

Related Reading | Dogecoin Made Up 62% Of Robinhood’s Second Quarter Crypto Trading Revenue

To put this in perspective, Dogecoin currently has a supply of 130 billion coins. The Chainalysis data shows that 0.01% of holders hold 82% of the total supply. This puts it at only 535 entities owning the majority of Doge’s supply. Putting the number held by these entities at a cumulative 106 billion coins held between them.

535 entities own 82% of Doge supply | Source: Chainalysis Dogecoin Report

Of these 106 billion coins, 37 billion is held by only 31 investors. Putting the investors’ holdings at over 1 billion coins each on average. These holders have held on to their coins for at least six months to 2 years.

Related Reading | Ethereum Founder Vitalik Buterin Joins Dogecoin Foundation Board Of Advisors

There’s no telling who these entities are. They could range from businesses to crypto exchanges that hold a large number of coins. But it leaves us with two possibilities highlighted in the report; “Either the vast majority of Doge is locked in exchanges and traded by retail, or it is concentrated in the hands of a small number of now-wealthy individuals.”

Featured image from Inside Bitcoins, chart from TradingView.com

Source link

Views: 0
DogecoinHoldersMajorityOwnedSupply
Share
0
FacebookTwitterPinterestEmail
previous post
Cardano, Uniswap, MATIC Price Analysis: 28 August
next post
XRP, Chainlink, Stellar Price Analysis: 28 August

Related Posts

Not a Whale, Not a Representative – Dogecoin...

12/28/2021

Crypto Flipsider News – ETH Outflow at 4-Year...

12/28/2021

Shiba Inu Is the Most Viewed Crypto in...

12/28/2021

Elon Musk Tells TIME Magazine Why Dogecoin is...

12/28/2021

Susan G. Komen Organization Now Accepts BTC, ETH,...

12/27/2021

Dogecoin Co-founder Billy Marcus Reveals Today How Many...

12/27/2021

Bitcoin Has Proven Itself, Says Billionaire Ray Dalio

12/27/2021

Dogecoin Prediction for 2022, Which Crypto Might Outshine...

12/27/2021

Shiba Inu Price Prediction For 2022 By DailyCoin

12/27/2021

Dogecoin (DOGE) Foundation Is Working with Buterin in...

12/27/2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

I agree to these terms.

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

    12/29/2021
  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

    12/29/2021
  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

    12/29/2021
  • Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

    12/29/2021
  • Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

    12/29/2021

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)

About Us

About Us

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, blockchain, Market, and more.

Featured Posts

  • Robinhood shows off Wallets Alpha with Dogecoin transfer, does Shiba Inu stand a chance

  • NBA Superstar’s Thirty Five Ventures Signs Deal With Coinbase

  • Talent Giant UTA Signs Prominent NFT Projects Cryptopunks, Autoglyphs, and Meebits – Blockchain Bitcoin News

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)
  • Facebook
  • Instagram
  • Linkedin
  • Contact
  • Privacy Policy
  • Terms & Conditions

@2021 -thecryptonewsweb.com - All Right Reserved.

The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
  • RelevantRelevant(REL)$0.825.35%
  • Heart NumberHeart Number(HTN)$0.000553-30.47%
  • TadpoleTadpole(TAD)$7.32-1.76%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184214-2.17%
  • SakeTokenSakeToken(SAKE)$0.0127234.37%
  • WTF TokenWTF Token(WTF)$0.0113500.16%
  • BNSD FinanceBNSD Finance(BNSD)$0.005460-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%
  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • PolkaBridgePolkaBridge(PBR)$0.439876-7.02%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • lympoLympo(LYM)$0.004392-4.43%
  • Falcon ProjectFalcon Project(FNT)$0.000366-2.23%
  • DYORDYOR(DYOR)$0.00002020.53%
  • TICOEX TokenTICOEX Token(TICO)$0.0013640.52%
  • MMS Cash TokenMMS Cash Token(MCASH)$1.000.00%
  • bitcoinBitcoin(BTC)$30,370.002.84%
  • ethereumEthereum(ETH)$2,058.853.73%
  • tetherTether(USDT)$1.00-0.01%
  • binancecoinBNB(BNB)$326.933.21%
  • usd-coinUSD Coin(USDC)$1.00-0.04%
  • rippleXRP(XRP)$0.4220471.55%
  • cardanoCardano(ADA)$0.552.41%
  • Binance USDBinance USD(BUSD)$1.00-0.07%
  • SolanaSolana(SOL)$53.395.56%
  • dogecoinDogecoin(DOGE)$0.0876582.99%
  • polkadotPolkadot(DOT)$10.302.03%
  • AvalancheAvalanche(AVAX)$31.716.12%
  • Lido Staked EtherLido Staked Ether(STETH)$2,013.624.18%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$30,390.002.95%
  • tronTRON(TRX)$0.0774703.05%
  • Shiba InuShiba Inu(SHIB)$0.0000135.40%
  • VectoriumVectorium(VECT)$425.81-3.49%
  • daiDai(DAI)$1.00-0.05%
  • Power CashPower Cash(PRCH)$0.017570881.24%
  • AlexAlex(ALEX)$0.068435-0.04%
  • litecoinLitecoin(LTC)$71.911.76%
  • CronosCronos(CRO)$0.1967903.10%
  • matic-networkPolygon(MATIC)$0.693.77%
  • LADZLADZ(LADZ)$0.0686894.36%
  • leo-tokenLEO Token(LEO)$4.941.32%
  • NEAR ProtocolNEAR Protocol(NEAR)$6.342.07%
  • FTX TokenFTX Token(FTT)$30.691.59%
  • HederaHedera(HBAR)$0.389473-3.44%
  • bitcoin-cashBitcoin Cash(BCH)$198.931.86%
  • RareRare(RARE)$0.0461220.00%
  • chainlinkChainlink(LINK)$7.495.52%