Dogecoin (DOGE), the cryptocurrency that started as a meme, has experienced notable growth since the 2021 crypto bull market, though it has not yet surpassed its all-time high. This digital asset enjoys unwavering support from influential figure Elon Musk and boasts a thriving community with over 3.83 million wallet addresses, each containing at least one DOGE, valued at $0.067.
According to data from BitInfoCharts, these wallet addresses collectively hold a staggering 141.68 billion DOGE, equivalent to approximately $9.5 billion. If these addresses were to represent a population, they would be comparable in size to Berlin’s 3.67 million residents. However, when it comes to combined wealth, their fortunes pale in comparison, amounting to roughly 18 times less than Berlin’s GDP of $171.77 billion.
What’s particularly noteworthy about Dogecoin’s wealth distribution is its pronounced skewness. The top 13 wallet addresses possess more than 25% of all available Dogecoins, totaling approximately $2.45 billion. This glaring concentration of wealth within a small segment of the community raises concerns about the asset’s equitable distribution.
Due to the pseudonymous nature of Dogecoin’s blockchain, the precise number of individual owners remains elusive, as one person can control multiple addresses. Nevertheless, the burgeoning community support for Dogecoin, evident through the increasing number of wallet addresses and high-profile endorsements from figures like Musk, is undeniable.
