101 addresses hold 67.7% of all Dogecoin. This is insane. You will get burned! - page 3.

shinratensei_

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Quote from: virtualdn on April 19, 2021, 05:50:48 AM

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! Grin

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.

int03h

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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.

MishaSER

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Quote from: virtualdn on April 18, 2021, 12:01:53 PM

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.

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

virtualdn

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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! Grin

Teraboy

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Quote from: Bluto on April 18, 2021, 11:39:50 PM

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.

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.

Luffygroove

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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

bryant.coleman

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Quote from: Bluto on April 18, 2021, 11:39:50 PM

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.

Bluto

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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.

poodle63

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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.

bitkanu

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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.

DapanasFruit

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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.

Sithara007

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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.

fosco333

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Quote from: virtualdn on April 18, 2021, 12:01:53 PM

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.

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.

omone1

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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.

Gozie51

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Quote from: virtualdn on April 18, 2021, 12:01:53 PM

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.

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

Quote from: memyselfandi on April 18, 2021, 12:46:09 PM

Dogecoin is highly manipulated by the whales which is the reason why it is so hard to predict.

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

ijeb

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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.

cheezcarls

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Quote from: virtualdn on April 18, 2021, 12:01:53 PM

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.

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.

neatworld

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Quote from: memyselfandi on April 18, 2021, 12:46:09 PM

Quote from: virtualdn on April 18, 2021, 12:01:53 PM

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.

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 Undecided

tyz

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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.

memyselfandi

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Quote from: virtualdn on April 18, 2021, 12:01:53 PM

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.

Topic: 101 addresses hold 67.7% of all Dogecoin. This is insane. You will get burned! - page 3. (Read 501 times)