Bitcoin News and Finance
Dogecoin Captures Double-Digit Gains This Week — One Address Still Holds 28% of the DOGE Supply Skip to main content

Dogecoin Captures Double-Digit Gains This Week — One Address Still Holds 28% of the DOGE Supply

Dogecoin Captures Double-Digit Gains This Week — One Address Still Holds 28% of the DOGE Supply

The notorious dogecoin has seen double-digit gains this past week as statistics show the meme-crypto asset has gained 19.66% during the last seven days. Out of the top ten digital currencies in terms of market capitalization, dogecoin has outshined the competition, even surpassing ethereum’s 18% weekly gains.

Dogecoin’s Weekly Gains Outshine the Competition, Google Trends Data Shows DOGE Interest Dive-Bombed After May

At the time of writing, both the topic dogecoin and the hashtag #dogecointothemoon have been trending on social media Sunday afternoon. As far as interest is concerned, Google Trends (GT) data shows that the search queries for the terms “dogecoin” and “doge” have dropped very low.

During the first week of May, the term “dogecoin” topped the highest score on GT with a score of 100, while the term “doge” hit a 29. Today, the query score for “dogecoin” is only 6 and the search term “doge” is 3.

Dogecoin Captures Double-Digit Gains This Week — One Address Still Holds 28% of the DOGE Supply
Google Trends data for the terms “dogecoin” (blue line) and “Doge” (red line) on Sunday, August 8, 2021.

Despite the drop, most crypto assets in terms of GT data that measures overall interest has dropped significantly. On the other hand, dogecoin (DOGE) markets have jumped considerably higher than most crypto assets today, capturing close to 20% in the last seven days.

Dogecoin Captures Double-Digit Gains This Week — One Address Still Holds 28% of the DOGE Supply
DOGE/USD price according to Bitcoin.com Markets data on August 8, 2021.

Additionally if one were to compare 12-month statistics, in contrast to a great majority of the 10,000+ digital assets in existence today, DOGE has outshined them by a long shot. 12-month DOGE stats indicate dogecoin is up 6,849% on August 8.

Dogecoin has been trading for roughly 0.00000557 BTC per unit and the stablecoin tether (USDT) is the largest DOGE pair capturing 71% of all trades on Sunday. This is followed by USD (10.81%), BTC, (4.89%), BUSD (4.74%), and the Turkish lira or TRY (3.22%) dogecoin pairs. The sixth-largest trading pair with dogecoin (DOGE) is the euro with 1.75% of Sunday’s trades.

Dogecoin Is Down 67% Since All-Time High, Mystery Dogecoin Whale Absorbs 28% of the DOGE Supply

However, dogecoin (DOGE), out of the top ten crypto valuations today, is down lower than its all-time high (ATH) than the rest of the top ten pack except for XRP. Three months ago, DOGE tapped an ATH at $0.737 per unit and today it’s down 67% from the ATH.

Dogecoin Captures Double-Digit Gains This Week — One Address Still Holds 28% of the DOGE Supply
“Token Summary” Into the Block stats for Dogecoin (DOGE) on Sunday.

The biggest difference from DOGE, in contrast to XRP, is that XRP is not only down 76% today but that was over four years ago. Currently, 70% of dogecoin holders are making money at the current price according to Into the Block statistics.

Dogecoin Captures Double-Digit Gains This Week — One Address Still Holds 28% of the DOGE Supply
The infamous “DH5” dogecoin address now holds 28% of the entire DOGE supply on August 8, 2021. This DOGE whale has managed to capture another 1% of the entire supply since February 5, 2021.

There is a concentration of large holders today as Into the Block statistics indicate DOGE is around 63%. Data from bitinfocharts.com’s richest dogecoin addresses show the mysterious “DH5” dogecoin address is still the largest DOGE holder today with 36 billion dogecoin.

This year, there’s been a number of theories that suggest the “DH5” dogecoin wallet belongs to Robinhood. At the time of writing, the “DH5” dogecoin address has managed to absorb over 28% of the entire DOGE supply.

What do you think about the weekly dogecoin (DOGE) gains and the mystery dogecoin holder with more than 28% of the supply? Let us know what you think about this subject in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory