The Dogecoin (DOGE) market has several investors, ranging from the average Joe to prominent figures like Tesla’s Elon Musk. Even though it entered the cryptocurrency market as a joke, the asset has managed to turn lives around.
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Dogecoin’s Growth And Market Activity
It should be noted that DOGE has surged by 127446.78% since its all-time low. This growth over the past decade highlights that the asset is no joke. At press time, DOGE was trading at $0.109, following a nearly 1% rise over the past 24 hours. Like other market assets, DOGE had an eventful week, rising by more than 8% in the past seven days.
Increased Network Activity
In addition to its price, the DOGE network saw increased activity. Over the past 24 hours, the meme coin’s volume surged by 20% and currently stands at $703,472,631.
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Top Dogecoin Holders
As mentioned earlier, Dogecoin holders include many individuals. Currently, one whale address holds the most DOGE. The wallet has a current balance of 31.7 trillion Dogecoin, 22.44% of the meme coin’s total circulating supply. Several believe that this particular wallet belongs to the prominent trading platform Robinhood.
Other Significant Holders
Next comes another wallet address that has 9.9 trillion DOGE, or nearly 6% of the entire circulating supply, included in the wallet, which Binance reportedly owns.
The rest of the wallets in the Dogecoin market hold a significant amount of the meme coin but much less than the addresses above.
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The cryptocurrency market is all about upholding privacy and anonymity. However, learning about large holders will give investors a better idea of when to expect volatility.