Who has the most dogecoin?

Who owns the most dogecoin right now? The answer might surprise you

Contents

In its own way, DOGE is currently one of the most important and influential cryptocurrencies in the world. This coin started as a parody of the early 2010s crypto boom, but ended up being a major player in the cryptosphere in its own right, inspiring the ongoing wave of dog coins. With dogecoin being as big as it is, have you ever wondered who has the most dogecoin? Let’s see what we can find out. 

The principle of anonymity

There is supposed to be a certain degree of anonymity in the world of cryptocurrency and blockchain technology. When we are talking about who holds the most dogecoin, we cannot specifically identify one particular person with the most dogecoin, nor can we talk about an organisation that owns the most dogecoin. We can, however, talk about the wallet which has more DOGE than anyone else.

The record holder

This wallet, which has the number DBs4WcRE7eysKwRxHNX88XZVCQ9M6QSUSz, holds more than 30.78 billion DOGE. This equates to somewhere in the region of 23.08% of the current supply of the token, and has a fiat currency value at the time of writing of just over $4bn. The person, people, or organisation controlling this wallet owns the most dogecoin in the world. Who they are, we cannot tell you.

However, there might be some clues. While DOGE has been in operation since 2013, this wallet was only started on 6 February 2021. The first purchase of DOGE this wallet made would have been early on in the bullrun that the cryptocurrency enjoyed at the start of last year. However, there do not seem to have been any notable exchanges which started dealing in dogecoin at that time, so we can probably rule any of those out. Whoever this person or persons are, receives the accolade of a crypto whale - someone who buys coins and tokens in massive amounts and can, at least in theory, have a real impact on a cryptocurrency’s price.

The former leader

Before the current record holder went on his, her or its DOGE buying spending spree, another wallet was the top ranked. This wallet, with the ID DH5yaieqoZN36fDVciNyRueRGvGLR3mr7L, held around 28% of the world’s supply of dogecoin, 36.71 billion DOGE. in June 2021. However, on 29 October 2021, the wallet's owner offloaded more than 32 billion dogecoin, most of which went to the wallet which now holds the record. That’s not to say that the former record holder is not still a major player in terms of the accounts with the most DOGE, though. It currently holds 4.1 billion dogecoin, or just over 3% of the total supply, worth almost $462m at the time of writing, making it the world’s fourth largest owner of the coin. 

Dogecoin
There are some wallets with significant amounts of DOGE in them - Photo: Shutterstock

Other notable accounts

One wallet this year was briefly the holder of the second-largest amount of dogecoin. It was set up on 19 February 2022 – four days before Russia invaded Ukraine – and opened its account by transferring more than 5.8 billion DOGE, worth $822 million, into it. Again, we do not know who is responsible for this activity, but they were able to make a massive purchase, around 4.37% of the circulating supply, at once and relatively recently, too. Five days after the wallet was opened, on 24 February, the entire balance was transferred out, having fallen in value by more than $145m.

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It was replaced as the second-largest holder on the same day by a wallet first opened in September 2019, which held 370.6 million DOGE on November 25 2021. It sold 70.6 million that day, and has since  been buying to coin in lots of up to 42 million at a time, particularly in the period from 22 February, to take it to just over 6.3 billion DOGE, worth £713m, as of the morning of 24 February.

The wallet with currently the third-highest amount of DOGE, is one of the longest-running DOGE wallets. It has been in operation since January 2014, not long after the coin launched, and it currently holds just over five billion dogecoin, or around 3.77% of the total. The amount of DOGE that it holds makes it worth around $669m.

Statistics, figures and information

There are almost 4.85 million wallets which hold dogecoin as of 23 February 2022, according to bitinfocharts.com. Of these, there are 946 DOGE millionaires, and 148 accounts with more than $10m in dogecoin. Another 335,000 accounts hold more than $1,000 indoge, DOGE, while more than 1.5 million people hold less than a dollar’s worth of doge. 

Unlike some other cryptocurrencies, there is no limit as to how many dogecoin can be at any given time. As of 23 February 2022, there were just over 132.67 billion DOGE in circulation. While this figure was also the total number of DOGE, meaning every dogecoin that existed was in circulation, that did not mean that every dogecoin that ever would exist was in circulation.

There were originally plans to have a limit of 100 billion coins. That was changed and, when the original target was reached, another 10,000 new DOGE would enter the market whenever a new block was mined. That happens about every minute or so, meaning there are around 14.4 million new DOGE every day, worth, at current valuations, $1.63m and there are about 5.256 billion dogecoins entering circulation every year.

FAQs

How many dogecoins are there?

As of 23 February 2022, there were just over 132.67 DOGE in circulation. This figure is changing all the time, with more than 14 million new dogecoin coming onto the market every day. 

Is dogecoin a good investment?

It might be. Dogecoin has certainly performed very well over the last 12 months, more than doubling in value, even if it has slumped quite considerably from its overall peak. That said, you do need to be cautious. Cryptocurrencies can be highly volatile and prices can definitely go down as well as up. You will need to do your own research and never invest more than you can afford to lose.

How to get dogecoin?

You can get dogecoin on most exchanges, including at currency.com. Just make sure to do your own research and never invest more money than you can afford to lose. 

Further reading

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