Bitcoin Forum

The first one might be Elon Musk himself... 28.43%!

https://bitinfocharts.com/top-100-richest-dogecoin-addresses.html

Watch out so you don't get burned, if they ever cash out Dogecoin goes down the toilet... just saying, it's your money after all.

Dogecoin is truly a promising coin in crypto especially over the past few weeks but we can't set aside the truth that it has a huge risk despite its pump. Dogecoin is highly manipulated by the whales which is the reason why it is so hard to predict, to the point that most of its hodlers are just relying on what Elon Musk will going tweet for this day and for other days. Correct me if I'm wrong but as far as I remember, that is not how crypto market works.

The majority of Doge coin owners hold only a small portion, so this explains the large concentration of coins at a few addresses. One must also consider that some of these addresses also belong to exchanges such as Binance, which hold consolidated coins on one or a few addresses. This reduced the individual large owners then again a little.

It's not a promising coin, it's a pure Pump and Dump POS joke coin and the fact that it's doing well now simply means that there are tons of newbies who are going to get rekt and hate crypto once this dumps. Reminds me of McAfee pumping Verge back in 2017/2018 :-\

I honestly think my beautiful cousin is fortunate that she decides to be bullish on Dogecoin from the day she bought it around $0.05 and now it's around $0.30. I believe she is happy with the profit now, despite that I am not a fan of this meme coin. Last 2017, I had like 36,000 DOGE but I quickly sold them. I could have almost $11,000 worth of DOGE by now if I am holding it, but it is what it is. Still not a fan, because this pump is just pure hype backed by Elon Musk and Mark Cuban.

The fact that Doge can be issued whenever, however and how many ever by the same guy that created Doge should say a lot about its future price.
At some point the crash will be inevitable.

I watched the hodlers but your fears are not tenable. Your fwar about if the whales dump but remember the whales were not the reason that the coin is bullish. Also, the whales won't dump at the same time. And if you look at the order book, you can still see lots of buy orders. In fact, their are queue for buy and sell which is the reason that volume is growing. The supply of doge is large and dumping won't be significant to cause panic because hodlers already understand the supply.

And how can you be sure most of the addresses are still active hodlers. I mean if they are still hodling keys to unlock the wallet and if they are still alive


Every coin has whales and they are capable of creating fud , sentiment or by go the coin.

The report of Dogecoin whale's wallet scares me, they must have been opportunist buyers, we can really hold that against them. I hold some doge worth some thousands of dollars which I bought with my wife's fund at $0.004 and sold some at $0.06 still going to hold the rest to see the mystery behind the pump. Dogecoin defies this crash.

Yeah, you could be true. Im not holding dogecoin currently but i think it is not good to buy just because the hype.
Just buy the coin you trust and base on organic growth, not by the hypes. Once the hypes over, then it may be dumped and that is the best time to buy the bottom.

It is not surprising, as this pattern can be found with most of the altcoins outside the top-10 list. In case of Dogecoin, the promoters (Billy Markus and Jackson Palmer) never went for a premine (probably because they never took their invention seriously in the first place), but in others we can see that the premine amount ranges from 10% to 100% (with XRP representing the extreme case scenario). Also, before the recent hype, DOGE had very few users and this explains why the coin holding structure looks so centralized.

Dogecoin is an example of a cryptocurrency that is decentralized yet many are raising concerns that the biggest concentration of ownership seems to be falling on a limited number of people. Some are fearing that if these people will decide to let go of their holdings then the value of the coin can immediately crash. Now, whether this fear or concern can be legit or unfounded that depends on what can really happen in the future. No wonder why Elon Musk is also raising this concern. Still, we have to congratulate all the holders with that recent big pump.

This what we have called that if the doge coin is fully manipulated by the major players. Once there's enough volume in the market and those addresses will try to do big liquidation in the market.
The whale can do anything with the price of crypto. The power of money is real in this case but the small players were also getting the advantage.

It was mentioned by elon aswell but I wonder who'd be crazy enough to go as far as owning majority of doge coins and do they bought it when the price was still below $0.1 or not? and see the first address despite having that much doge it keeps accumulating doge day by day and if the owner happen to dump that coin the market gonna be destroyed for sure.
I think at this point trying to hype up doge and make it go beyond $1 is the same as feeding ourselves to the whales but thats just my opinion though. I better off staying away from doge if the coins too concentrated like this.

It's not too dissimilar for BTC really. top 1% of holders hold like 99% of the BTC in circulation. This is only natural due to funds being held in custodial services. It will get even worse for dogecoin in due time after the bull season I think.

Wrong. First of all, around 20% of the coins are lost, so your 99% figure is even theoretically not possible. And even in 2014, the distribution of coins were not skewed, as seen from the leaked data of Mt Gox. On top of that, nowadays a large amount of BTC is being held by institutions, which means that who ever owns shares in these institutions indirectly own BTC. And finally, the entry of PayPal has made it possible to invest small amounts ($50-$100) in Bitcoin without going through the rigorous KYC process associated with various exchanges. This has also made sure that small-sized holders now own a considerable fraction of the circulating supply.

I personally don't get it why dogecoin becomes so popular like now, okay maybe the most popular businessman on earth shilled it but now let's see, I think it's just for fun. Does Doge have a superior utility? No, I don't think so. Am I bitter because I don't have dogecoin now? Yes, probably... lol, kidding. But, kidding aside, seriously now after knowing this fact I become more and more confused. apparently, the doge was not really attracted massive adopters and it's definitely not decentralization for me

It seems like true but that's too fast for more than 67% already owned by a few address. You can see this https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

If you are making the comparison between bitcoin and doge, you will know that if doge is even worst than bitcoin and why. There are thousands addresses that was owning majority of bitcoins.
It's different with doge.

101 addresses with 67% total supply.

It seems 2 addresses are gone already - now we have 99 addresses owning 67.23% - watch out guys because once it crashes it will crash hard!

Nevertheless I hope it will reach that dollar to sell all Dogecoin I have left into Bitcoin!  ;D

I cannot understand what these wallets are, why 1-2 Dogecoin is transferred to them, is this a donation wallet?

CZ warned about this. The fact that few people own too many DOGEs is a threat to dumping. Although DOGE is hot crypto in the market and the community around it is rich, it doesn't help either.
The strength of the community in promoting DOGE's value is modest, I believe there is a group of people trying to manipulate and destroy the value of this crypto at any time.

It seems like these addresses were waiting for the market to have enough liquidity and then more addresses will try to send their doge coin to the market and boom! another dump will come very soon.
I just feel curious who is behind this major pump. Someone can afford to buy multi billion worth of doge coins.

This is crazy. People should convert their doge asap.

In my opinion, It's understandable that few wallets hold a substantial amount of dogecoin and that's because most people store their coin on cryptocurrency exchange Inorder to trade. Secondly, we know the dogecoin hype got its full gear from Elon musk who must have invested a whole lot into the project. No doubt, we could experience a dump, but it's still a wise idea to take advantage of the market and make some quick bucks.

Dogecoin really makes a crowd this year. Many investors move their funds into Dogecoin even if they know that the price now is the very highest price to buy. I can not imagine if the dump trend is coming to the market because it can push the price to go down and even make the drops and back to the lowest price before. Elon itself can dump his coin at any price he wants but I do not think he will do that unless he needs money hahaha ;D

The majority of the coins were pumping hard for a long time and Doge was a low value coin and the shilling of Elon Musk gives them the best platform to rally and people will be investing heavily knowing they can make a fortune with it and anyone who was holding the coin for along time also won the lottery as the price has rallied to levels we have not seen before.

This is the first time i am seeing this study about 101 addresses holding all of Dogecoin but that will be the case with all the coins in the market and hence there is nothing to worry.

Most people who invest in dogecoin do not investigate such things. If they did, they would not have invested blindly in this coin. For sure Elon musk have got big portion of his coin when it was few satoshi and now he is selling at good prices by pumping the price. Sooner or later, everyone holding dogecoin will get rekt.

That was sad but true, and yet many people think that Dogecoin is a real deal with real demand and use case let us accept the reality that Dogecoin is controlled and manipulated by whales so it's up to us now if we still want to invest in Doge or not, But just always remember to invest only that you can afford to lose so just in case something bad will happen you won't regret.

If this is news to doge holders, then they really need to up their game;)

DOGE has always been concentrated in the hands of a few, and these holders have never let go. When they do, it will be a lot of tears and failed stories of crypto regret.

Fun coin and I love it don't get me wrong, but I think a lot of people are walking on thin ice investing in this coin.

Sound rational. Nevertheless, it is still dangerous since only one address are holding such a large amount of doge. Everything can be brought down in just a second, especially if it is true that those crucial number dogecoins are centralized on an exchange

Most of those dogecoins are active, not like bitcoin where most of top wallet are inactive due to the loss of private key. It will be a catastrophe if all of them decide to sell all of their doge

When the eyes realized Doge was in the top 5 of the cryptocurrency market capitalization.  All here, I realize, is a magical enchantment of the spooky voices of the tweets.  Ironically, it became the truth that caused the magic of this space.  Suddenly, you realize that everything will shatter.  Lol

anything that grows rapidly may also be destroyed quickly. we have to have that kind of understanding.
but doge looks strong even though our belief will see Dogecoin will fall back one day.
with so many holders with a very large number. it could easily cause the Doge market to crash. we will just wait for the time.

Well it is quite promising because it is successful in giving some profit to the small-time hodlers but yeah it is the best example of pump and dump coin in crypto market. Most of the newbies and novices in crypto trading are just looking on the chart and wait for the coin to pump, without the proper gathering of information about that coin and that is the reason why most of them are feeling broke and blame crypto when they left in the air or FOMO.

I haven't really checked, but isn't the distribution in Bitcoin very similar? Maybe not that harsh, but I think only a small fraction of addresses holds the majority of BTC in circulation.

All that Doge is about, is the Musk tweets. Everyone is buying waiting for the next pump and dump by Musk.
Doge was always a pump and dump and it managed to become a collosal one this year with the help of Elon Musk.

We have to congratulate him for becoming the top pump and dumper since McAfee.

I warned my friends to be careful with these coins, it has gained too much price. So it's very risky to have holdings showing that the doge is like a balloon that can explode at any moment.

Promising?  In what sense?  Is it right to say that a pump and dump coins where Dev had abandoned (https://twitter.com/cz_binance/status/1354828738215563267?lang=en) with no actual roadmap or whatsoever nor give a new innovation in the table a promising one?

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With 101 addresses holding the 67.7% can go either way.  If these people decided to lock their coins, then that is 67.7% fewer coins in circulation (which is very unlikely to happen), the action can bring scarcity to the overall supply.  But then if they decided to dump then that will be a huge disaster.

You are correct. Changpeng Zhao called Dogecoin "the most successful and measurable joke in human history", and rightly so. Dogecoin was originally created to mock the whole idea of cryptocurrency and now it is the 5th largest cryptocurrency in terms of market cap. And during the last 4 months, DOGE exchange rate (vs USD) has gone up by more than 100 times, while that of BTC has increased only by 3 times. This is what hype can do in cryptocurrency market.

This is absolutely an insane thing. As Elon Musk continues to manipulate Dogecoin price, so many people have invested in it. And the number of this kind of people increases as time goes by. It's really a too risky investment, in my opinion. It feels like it will reach one dollar at least. But if Elon Musk stops supporting Dogecoin, it's very likely that things could be upside down.

But it is very risky i can not see anything in the long run. Dogecoin is just the first version of cryptocurrecy just like bitcoin.
Unlike bitcoin is the medium of exchange for all cryptocurrecy exclude fiat or smart contract token.
But Dogecoin is nothing, this multibillion $ only depend on elon musk & his fan.

Damn it 13 addresses hold close to 50% of the total DOGE supply. I bet that among those 13 addresses several of those belong to the same person. Check out how old the address is and when the first input happened. In June! 2019. It is a relatively new address.

It's speculation, but that is a wealthy individual. 935 Inputs. Someone acquired large amounts of DOGE carefully, didn't intent to pump the market too early. If that person also owns address 3 and 4 he or she owns about on third of the total supply. It could also be a group of investors of course.

Since you have mentioned it, I tried to think out of that idea that "Dogecoin is highly manipulated by the whales", and I am beginning to believe that you are absolutely right about that idea. I mean I was happy for the common folk who has invested in DOGE that made so much money out of it. But now we need to worry as well because one big sell from those whales then it will be over for DOGE holders and they will lose so much money in the process.

If this information is correct, it is easy to influence the price. I believe that it is not a promising currency in the long term.
Dogecoin did not provide anything that would pay people to use it, as it relied mainly on the promotion that brought more demand, and from it the increase in price.
When the price starts to crash, many small investors will lose their money, and unfortunately, many people will start to believe that it will rise again and buy some of it.

That is how the market works.  Often times it is moved by speculations that is why we often see coins that have no reason to grow in a price increase in a steep uptrend.  And with DOGE with just 101 wallets that holds 67.7% the market is easily manipulated.  These people can easily pump and dump the coin.

That's not true. Elon Musk has tweeted a few times about Dogecoin, but the Doge whales have taken his tweets out of context and used it for price manipulation. That said, Elon should take some of the blame and I am not exactly sure why the SEC is treating him with kid gloves. The whales have started to convert their Doge to USD or BTC, and eventually the inexperienced investors who make the late entry will be stuck with this shitcoin.

This is what I'm worried about for now so I don't dare to buy Dogecoin because Dogecoin is currently at a very high price. and I'm sure Dogecoin will drop back in the near future if some of the top altcoin holders sell all the Dogecoin they own. and we will get the risk of loss.so watch out for Dogecoin holders because there will never be a notification when the Dogecoin price will drop again.

CZ had said this through her tweet a while ago. Unfortunately, too many newbies perceive Doge's performance as a security token and fall in love regardless of the potential collapse they can suffer. I am sure that there is a price point that is the selling target of some doge-holding whales and will trigger other holders to sell.

The concentration of Dogecoins in the couple of wallets mentioned here is weird. Someone really controls the coin and that is what we should be concerned about. I don't know whether another distribution is better but this one isn't good.

Oh wow, many addresses that still holds doge that worth billions of dollars. For sure the doge price will crash if those holders sold their doge at the same time but hey, this is cryptocurrency you know how risky it is..

The interesting part is that those wallets are rather new. It is not like somebody held those coins for 5 years or so, or at least it could be a realistic scenario that that person loaded those wallets (in particular the number one wallet) because of some information that the rest of the market was not aware of. Whoever possesses the first wallet, holy.

Imagine you are holding tens of billions of dollars in Doge:D You just made it to become one of the richest people in the world by holding Doge. Must feel bad for all those who had to work hard even for a million, let a lone a billion.

I don't see any good future about this dogecoin, obviously these coins totally one of the shitcoin but in fairness, its volume was actually insane now in the market. And very noisy recently only after Elon Musk posted on the social media of Twitter. Where this Elon obviously, was the primary manipulator of Dogecoin so far. This is what I know for sure about it.

Whether it is a shitcoin, who knows. It has a large community backing it without any doubt. Not only was the volume insane, but the ROI for all those who have been holding it even only for a couple of months.

It doesn't require them to sell all the doge they have, it only requires one of the whale to sell 10% of their doge the market will already affected by it, many people actually keep watching their address and every movement matters.
I think it's crazy as well and allows market manipulation by these whales. The market could literally be brought down easily by them and even elon keep saying that the whales should sell their btc but none of them actually care. I think the whales gonna dump when the price is $1 and that alone already make them more than billionaire.

For you not to get burn especially in dogecoin is to be more cautious and be attentive in the movement of it in the market knowing that there are plenty of whales of this coin. Also, time to time do check the chart as well as the price and most importantly if you can see that you already get a good amount of profit and earning with dogecoin take profit because its better to get a small gain than getting burned big time.

Yes, everyone knows the risks they have to understand about cryptocurrency, but everyone always takes advantage of the opportunities that are still there to get a good profit on each cryptocurrency including Dogecoin.

Opportunities not only imply advantages, they imply a chance that is closely related to a risk! That would be the correct explanation! ;) Dogecoin looks more like there is a lot of greed involved.

Greed, manipulation, FOMO.. everything is involved with Dogecoin right now. The largest holders control a huge percentage of the Dogecoin circulating supply and they are artificially inflating the prices by keeping their coins away from trading. An artificial scarcity is being created, in order to pump the prices. It will be interesting to know when they will dump their coins. Because given the poor liquidity of this coin, I won't be surprised even if the prices go down by 70% or 80% in a single day (a few days back we already had a 40% drop).

Dogecoin isn't a promising coin, it's just a meme coin without any real product just because the price is rising doesn't mean it is a promising coin, people these days use doge as a tool for investment, since the price of dogecoin can be easily manipulated by just one tweet from Elon Musk, and holders solely rely on those tweets to make profit from doge, without those tweets dogecoin wouldn't dream of reaching this current price right now.

It is hard to anticipate what is going to happen next and we don't know what Elon is going to do next, we either ignore him or be patient, but there is no point in putting all the power into his hands.

Elon's tweets are not going to anymore damage. He has been tweeting almost continuously for the last few days and that has resulted in the cryptocurrency market crashing by 40% (around $800-$900 billion in unrealized losses). The damage has been done. Now no one will take his tweets seriously anymore. His intention has been exposed and for me, it is a good thing. The sooner we get rid of Elon, that much better. And since it has happened now, the threat of any future sabotage from Elon is inexistent.

In what ways will it not break again? if now Elon Musk tweeted against cryptocurrency,
would it be good for cryptocurrency products in the midst of the current market correction?

I don't know what's going to happen if he announces some news for Dogecoin. Some of the top wallets are still growing and buying. I don't know which of the wallets are exchange wallets but at least all those below the rank 1 wallet could be private wallets with a fortune in them.