With Dogecoin’s current circulating supply at about 156.39 billion, these 13 wallets account for approximately 46.19%. This trove is valued at about $5.74 billion.
The top four largest holders of $DOGE belong to crypto exchanges. At the time of publication, Robinhood-ColdWallet, likely controlled by Robinhood Markets, Inc. (Nasdaq: HOOD), had roughly 27.16 billion Dogecoin worth $2.155 billion.
Meanwhile, Upbit-ColdWallet and Binance owned addresses held nearly 11.68 billion and 10.9 billion $DOGE, respectively.
The defunct cryptocurrency exchange Cryptsy still holds about 5.03 billion $DOGE, with a market value of $400 million.
Dogecoin whales on a buying spree
Dogecoin whales, wallets holding more than 100 million $DOGE, saw their holdings surge by 600 million last week to 56.21 billion $DOGE on October 16, from 55.6 billion on October 12.
As a result, crypto analyst Ali Martinez suggested that $DOGE price could rally towards $0.17, especially if buyers continue to accumulate at $0.80.
$DOGE price today
Dogecoin price traded at $0.0795 on Monday, down 10.71% over the past 30 days. The dog-themed memecoin, which gained mainstream traction through support from Elon Musk, had a market capitalization of $12.43 billion.
Over the last 24 hours, $DOGE saw its trading volume spike 16% to $646 million, based on updates Finbold got from CoinMarketCap.
Despite the significant control of the memecoin by a small group of entities, the top large holders have continued to accumulate more $DOGE amid choppy consolidation.
Featured image via Shutterstock
