Research shows: DOGE's record-high concentration 62% of supply is held by the top 50 addresses

The latest data analysis shows that a well-known entrepreneur's previous viewpoint on the over-concentration of DOGE indeed has its basis. A research report recently released by a Crypto Assets rating agency compared various mainstream Crypto Assets, and the results indicate that DOGE has the highest concentration.

Research has found that a single address holds 28% of the circulating DOGE, approximately 36.8 billion coins, worth about $2.1 billion at current market prices. Even more notably, the top 20 holders collectively control nearly half of the DOGE supply.

The report also lists the circulating supply ratio held by the top 50 addresses of other major Crypto Assets.

• DOGE: 62%
• Litecoin: 30.5%
• Bitcoin Cash: 24%
• Bitcoin SV: 21%
• DASH: 18%
• Bitcoin: 10.5%
• Ethereum: 45%
• TRON coin: 34%
• Terra (LUNA): 30%

The current situation where large holders control more than half of the DOGE supply has raised concerns in the market. This not only increases security risks, making it more susceptible to a 51% attack, but may also lead to drastic price fluctuations. Although these large holders currently have no motive to sell, their ability to do so is enough to deter some potential investors. This highly concentrated situation could hinder new investors from entering the market and affect the long-term development of DOGE.