Whether we rejoice or only perceive the heartbreaking immaturity of the crypto sector, the Dogecoin (DOGE) cryptocurrency is experiencing spectacular growth, taking full advantage of the aura and the colossal striking power and of influence from Twitter’s newest owner, Elon Musk. While the billionaire managed to single-handedly (and without announcing anything official on the subject) explode the value of Dogecoin by 120% in a few days, the explosive growth of the crypto-joke has benefited thousands of investors, some suddenly becoming millionaires.
The Shiba and us
who still remembers that Dogecoin was started as a school joke, from a fork of Litecoincoded in 4 hours, just for lol in 2013?
8 years later, and thanks to a free worldwide communication campaign organized by the Twitter in chief Elon Musk, the capitalization of the Doge currently approaching $20 billionafter a meteoric growth spurt in recent days, now boasting the asset at 8th place in the marketcap, hot on the heels of the BUSD stablecoin.
Take a good look at this figure: dogecoin now weighs as much as Solana and Polygon combined.
Not bad for a “token-meme”, a crypto asset whose only formal added value is to crystallize a strong community commitment around its astonishing charisma of laughing Shiba.
Amusing detail by the way, the “genesis” Shiba is called Kabosu and celebrates his 17th birthday today, we kiss him on the nose.
But for some, this is now all very serious. Indeed, many Dogecoin investors have recently seen the value of their portfolio explode. A phenomenon all the more remarkable as it occurs in the midst of lean times on the crypto markets.
There are thus more than 1000 people who, in recent days, are now part of the club of “Dogecoin Millionaires”.
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SlumDOGE millionaire
As a preliminary, it will of course be recalled that 1 portfolio is not necessarily equal to 1 individual. Indeed, a single person can perfectly well have several wallets, immediately distorting any attempt to accurately map the true distribution of an asset.
However, consulting the latest data on Dogecoin shows us the extent of the increase in the total value (in dollars) of dogecoin holders.
This table shows us that more than 1020 wallets contain more than one million dollars in DOGE (including 160 which are even beyond 10 million).
It should be noted in passing that in the land of plenty of fictitious decentralization, 10 addresses hold more than 50% of the supply (and the value of Dogecoin), the best-stocked address concentrating on its own 28% of all dogecoins ($5.3 billion). All in a world where people worry about Satoshi Nakamoto’s lost bitcoins.
Surprise (not really), this mega-whale is none other than the wallet of the Robinhood platform which must recently have become particularly Musk-maximalist.
And you? are you a dogecoin holder and maybe even a new millionaire? If so, remember to secure your profits. Indeed, even the most mischievous Shiba Inu will end up going back to the basket at some point. Failing that, it may be time to discover Dogecoin, and its little comrades, by going create an account on Binancethe reference Bitcoin and crypto exchange (commercial link).