The 10 largest Dogecoin addresses held 69 billion $DOGE, worth billions of dollars, as of Oct. 21. That represents approximately 44.1% of circulating supply, according to BitInfoCharts data.
The 10 largest Dogecoin addresses held 69 billion $DOGE, worth billions of dollars, as of Oct. 21. That represents approximately 44.1% of circulating supply, according to BitInfoCharts data.
The headline figure needs context. Several of the major addresses belong to exchanges and custodians, meaning their balances may represent many customers rather than a single owner.
A separate analysis by Finbold reached a similar conclusion. It found that the top four largest holders of DOGE belong to crypto exchanges. It said one of them, labelled Robinhood-ColdWallet and likely controlled by Robinhood Markets (Nasdaq: HOOD), held roughly 27.16 billion Dogecoin, worth about $2.155 billion at the time of publication. Finbold also noted that 13 addresses together control more than 46% of the memecoin's circulating supply.
In practice, concentration on a rich list does not necessarily mean a small group of individuals can move the market. Exchange and custodial wallets pool customer funds, so the number of beneficial owners behind them is likely far larger than the address count suggests.
Separately, large holders have been adding to their positions. Dogecoin whales added roughly 600 million DOGE between October 12 and 16, per analyst Ali Martinez. According to Benzinga, Martinez also pointed to a TD Sequential buy signal near $0.08 and on-chain data showing about 36 billion DOGE previously changed hands around that price.
Their total holdings climbed to 56.21 billion DOGE, according to the reported data. Blockonomi reported that Dogecoin traded near $0.0802 on October 17, down roughly 7.6% from its weekly opening, even as large holders increased their balances.
Analysts caution that such figures are estimates. A rise in tracked whale balances can reflect transfers between wallets rather than fresh purchases, and a technical buy signal does not confirm that demand has reversed a decline.
Finbold: Just 13 Dogecoin addresses control 46% of DOGE supplyBenzinga: Dogecoin Flashes Buy Signal at $0.08 as Whales AccumulateBlockonomi: Dogecoin Price Tests Historic Trendline as Whales Add 600M DOGE
