Dogecoin, a cryptocurrency that was born from the Litecoin codebase on December 8, 2013 and has not undergone significant technical changes since then, continues to generate interest in the community. Created as a joke by developer Jackson Palmer, the meme coin periodically receives the attention of the richest inhabitant of the Earth, Elon Musk, and against this background shows a sharp rise in the rate. The last such 45% pump happened as recently as today. At the time of publication, Dogecoin is the 15th largest asset in the market with a capitalization of $ 5.87 billion.
In April 2019, Musk admitted that Dogecoin might be his favorite cryptocurrency. “He’s pretty cool,” the founder of SpaceX wrote at the time, after which he was nominated by users to the role of CEO of Dogecoin in a vote.
It is noteworthy that just two months earlier, a new address appeared on the Dogecoin network, which has since concentrated significant volumes of cryptocurrency. Decrypt draws attention to it.
“Personally, I don’t think this is a complete coincidence, but there is no clear evidence anyway,” wrote one of the users of the BitcoinTalk forum. – Definitely some kind of massive cryptokit. Owning 20% of a DOGE that has been in the top 25-50 for so many years and has no organization, venture capitalists or DAOs behind it is very interesting. ”
The first transaction at the mentioned address was recorded in February 2019. Then a modest 100 DOGE was received on it, but subsequent transactions were much larger and contained hundreds of millions of coins. Since then, the address has raised 34.9 billion DOGE, or over $ 1.2 billion at today’s exchange rate. With a circulating volume of 128.2 billion DOGE, this share is 27% of all coins issued over the past years.
In this regard, users reasonably have questions about the centralization of cryptocurrency ownership. how noted on Twitter Binance CEO Changpeng Zhao, a cryptocurrency that has Elon Musk as a PR manager and is decentralized in the sense that it has no developers, has its own advantages, but a large number of coins in one wallet is always a risk.
“One address holds 27% of all DOGE. Top 20 addresses are held by over 50% of all DOGE. A kind of ‘centralization’, ”he wrote.
The other addresses Zhao mentioned contain much fewer coins. The CEO of Binance claims that he is not aware of any exchanges or mining pools that might own these addresses, just as they do not belong to his own platform.
The specified address attracted the attention of users even before the last high-speed climb of the course. Last year, it was discussed on Reddit when the value of the coins on it was about $ 20 million, but users then did not come to a definite answer. Fulvio55 is confident that none of these addresses belong to an individual holder.
“These are usually cold storage facilities for exchanges and similar services,” he suggested. “Also, there is not a single local ‘celebrity’ to whom they could be attributed.”
Other panelists note that even if these coins are in the possession of the investor, it is not clear why he keeps them in the same wallet, since “even around Dogecoin there are not very friendly guys.” Palmer’s ownership of the wallet is also not considered a plausible version. If the address is really associated with a real person, he should be very pleased with the excess attention to cryptocurrency lately.
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