Dogecoin Whale Watch: Top 10 Holders Control 48% of DOGE Supply

Dogecoin has been reigning in the meme coin realm for quite some time. However, the distribution of DOGE raises questions. On-Chain data shows Dogecoin is not as decentralized as it is often times portrayed. Specifically, the concentration of wealth is significant: 10 addresses hold a large percentage of the total supply.

Dogecoin's Concentration Problem: 48% Held by Top 10 Wallets

Drawing on data from CoinMarketCap, the top 10 wallet Dogecoin addresses currently hold a total of 48.02% of the coin's supply. This raises concerns about the potential for market manipulation and the true decentralization of the cryptocurrency.

According to data analysis, the top 100 holders collectively own 100.00% (20,180,000.00 Tokens) of DogeCoin Token Total Supply: 20,180,000.00 Token. Among them, the top 10 hold 48.03% of the shares. The top 20 hold 54.76% of the shares, and the top 50 hold 62.95% of the shares. This mode of centralized supply control poses a great risk to the average DOGE holder.

Dogecoin Supply and Distribution

While Dogecoin's total supply has been a topic of debate, the core issue is not just the overall number of coins but their distribution. The fact that such a significant portion, almost half, is controlled by a small number of wallets underscores a centralization problem within the DOGE ecosystem.

Implications for Dogecoin's Future

This concentration of wealth could impact Dogecoin's stability and future value. Large holders could potentially exert undue influence on the market. While DOGE has seen periods of high growth and community support, questions about its utility and development remain. 2025 has been a rough benchmark for many crypto enthusiasts.