Who Owns the Most Dogecoin in 2023 – Robinhood, Binance, Elon Musk, and more

Have you often pondered who has the most Dogecoin in their possession? Dogecoin has seen enormous growth over the years, and it is now widely recognized as one of the market’s most well-known and easily obtainable cryptocurrencies.

However, because of the coin’s low value and continuous production, it is challenging to amass a fortune in Dogecoin.

We provide some analysis based on data obtained till February 15th, 2023. It is available to you if you are interested in knowing more about who has the largest quantity of Dogecoin and how much money those wallets are worth.

The top 15 DOGE wallet holders are as follows:

• 24.29% – Robinhood / DPDLBAe3RGQ2GiPxDzhgjcmpZCZD8cSBgZ
• 5.59% – Binance / DE5opaXjFgDhFBqL6tBDxTAQ56zkX6EToX
• 5.26% – Unknown / D8ZEVbgf4yPs3MK8dMJJ7PpSyBKsbd66TX
• 3.64% – Cryptsy / DDTtqnuZ5kfRT5qh2c7sNtqrJmV3iXYdGG
• 3.24% – Unknown / DDuXGMFNGpGjaAqyDunSMvceMBruc1wwKF
• 1.43% – Unknown / DDCRBABw7b1U7gSmgstb5SHWRS7gTqRWBc
• 1.34% – Dogeparty-XDP-burned / DDogepartyxxxxxxxxxxxxxxxxxxw1dfzr
• 1.34% – Unknown / DMuFDCTwxdqzfWrCEE7HiMxBonKVU49Fz4
• 0.89% – Unknown / D94wYp1bGAP61Q4ytp8iau4fWEWaNTbCvm
• 0.79% – Unknown / DLCDJhnh6aGotar6b182jpzbNEyXb3C361
• 0.76% – Unknown / DHQsfy66JsYSnwjCABFN6NNqW4kHQe63oU
• 0.75% – Unknown / D6LKpBFJaf6moGenC39eXEjzAqLzYiTfdz
• 0.72% – Unknown / D9a1Ah7mUNAJwNqHPER4DN9zNLoqcYFDZW
• 0.72% – Kraken / D8WhgsmFUkf4imvsrwYjdhXL45LPz3bS1S
• 0.71% – Binance / DGmzv39riELTuigZCUD6sWoHEHPdSbxdUB

A total of 51.48%

That’s right, just 15 top holders hold a whopping 51%, and more than 15% of those are Unknown entities.

So let’s review. The whale in the ocean is “DPDLB…” with almost 25%. It’s confirmed by several Twitter users and several blog posts around the crypto space that this is Robinhood‘s wallet, controversial to the rumors that it is Elon Musk. The wallet started filling on June 14th, 2022, and currently holds more than 33 B DOGE ($2.90 B). Several transactions have upped it to 40 B DOGE. Lastly, on July 21st, 2022, and from there on, it was drained with 7 B DOGE. Not a very active wallet.

The second is “DE5op…” – also confirmed by several accounts that it is Binance‘s. The first transaction was on July 17th, 2019. The wallet is filled regularly with several million Dogecoin, and the draining is significantly lesser than the amount filled up.

So here we come to the third one and one of the two Unknowns in the top 5. “D8ZEV…” first transaction was on November 09th, 2022 – around the time of the first symptoms of the FTX disaster. Two days later, on November 11th, 2022, the wallet has already 7 B DOGE. From there on, it has maintained between 7 and 7.5 B Dogecoin. The wallet is a complete mystery, but again many speculate that if it is not someone from the FTX circle, it must be Elon Musk. It’s also the time after Twitter’s acquisition by Musk by two weeks, so there may be a connection as The Dogefather continues to boost Dogecoin value by making comments and tweets about its future micro-payment capabilities.

We are continuing with Cryptsy‘s “DDTtq…” wallet. So this is a big saga, but it’s safe to say that this wallet won’t be moving any funds soon. Cryptsy’s CEO and founder Paul Vernon is under indictment and is currently whereabouts are unknown. Vernon was charged in a 17-count indictment, including tax evasion, wire fraud, money laundering, computer fraud, and destruction of records in a federal investigation, among other charges. The wallet received its first funds on January 11th, 2014, and quickly in a matter of 20 days to boost it to 5 B DOGE. The wallet regularly acquires small transactions but has maintained this cap. There is just one transaction for 999,999.9 DOGE that we are pretty sure is testing. It is to wallet DRFniKaU5tBGD2PziANUK6dgBrLTMnzB1A that has not made any other transactions.

“DDuXG…” is the second in the top 5 that is Unknown. It currently holds around 4.5 B DOGE and was created (first transaction) on July 21st, 2022. With the connection of Robinhood’s wallet that stopped its incoming transactions on July 21st, and this one was created then, there is speculation that it’s connected to the company. This wallet was drained almost to zero on September 16th, 2022, and started to be filled again on December 19th, 2022. There are few outgoing transactions from there, but mainly it has been filled up on several transactions. This surely is a whale, as the transactions are huge – around 400 and 600 B DOGE each time. Again there are speculations that this may be Musk’s, but this is more to do with the fact that everybody is hyped up on Musk + DOGE and is searching for clues to connect them as much as possible.

The sixth wallet holder, “DDCRB…”, is one big puzzle piece. It has almost 2 B DOGE on one transaction made on August 18th, 2022. Nothing can be found on the internet about this account. In our research, we’ve found that it has received the funds from this wallet: DGottmgfevJzhhfmvGdA2JpMjMJ1DsSKjJ than in terms got its funds from this wallet: D5dqc34fK9yu4Hke6znvZvZUKZABVU4T8Z and so on and so on from the beginning of 2022. It has obtained its transactions from another Binance wallet, but only Blockchain Analytics firms can answer the question – of who this is. It’s almost certain that this is not Elon Musk’s wallet, as Chainalysis would have captured his record by now.

The next one is the “DDogeparty…” wallet. It’s a drop point for Dogecoin that is burned, and funds can’t be moved out of this wallet. It will surely gradually increase, but will it make Dogecoin deflationary – I’m not sure.

Our team believes the “DMuFD…” wallet is the most interesting. If you ask us, this wallet has the highest chance of being on Elon Musk. It started to be loaded on June 22nd, 2022, with small transactions, but the heavy inflow began to happen on July 25th, 2022. There are transactions between 25 M and 60 M Doge, with only three outflowing transactions. On October 06th, 2022, the incoming Dogecoin transactions fell to 5 M. There are transactions from there almost every day. This may hint at someone who has the money to stash away other assets of value regularly.

We will review the wallets that are under 1% quickly in a row:

• “D94wY…” – Similar to the sixth wallet (DDCRB…) – one incoming transaction for 1.23 B DOGE on November 01st, 2022. One week before FTX fiesta.
• “DLCDJ…” – First transaction on April 21st 2018. This wallet has made transactions for 146 B DOGE received, and 145 B DOGE sent. Accumulation began on Sep 2018 and was siphoned out on Dec 2018. Again inflow on Jul 2019 and gradual outflow until the end of 2020. It started accumulating again and is a very active wallet.
• “DHQsf…” – Started at May 09th 2022. Active wallet with much inflow and outflow – 13/12 B DOGE in ratio.
• “D6LKp…” – Similar to the eigth wallet (DMuFD…) – several inflow transactions, few outflow. Again it can be Musk. As it accumulates with not so many large transactions.
• “D9a1A…” – Again similar to the eight (DMuFD…) and twelvth (D6LKp…), but much older. It started on June 13th, 2016, and quickly gathered for 13 days until June 26th. There is no single outflow transaction. Hopefully, whoever it still has their keys to unlock it. May it be the wallet of Jackson Palmer or Billy Markus
• “D8Whg…” – One big Kraken vault. It had a single large transaction of 1 B DOGE on February 22nd, 2018, and the funds still are there. There is no outflow.
• “DGmzv…” – Again, vault, but Binance’s. Large transaction of 1.4 B DOGE on May 23rd, 2022 (after Terra‘s and There Arrow‘s downgrading party). It moved out full funds on January 25th, 2023, and filled again a few minutes later with 0.985 B Dogecoin.

Some analysts claim that Elon Musk may be the largest holder of Dogecoin, controlling it through the “Robinhood” address. Some thoughts are as follows: “His Birthday coincides with transactions, etcetera, etcetera.” But we think all this is quite speculative. Several Twitter analysts have confirmed Robinhood’s wallet authenticity.

Also, Musk may say and tweet things about Dogecoin and its potential future as a micro-payment adoption and options on Twitter, but that does not mean that he is accumulating. As a matter of that thinking, we suggest that Elon Musk may be out of the top 15 holders or any Dogecoin holder. He sure has got on the last Crypto Bull Run, but also he has dumped almost all of it back into the market. And it was mainly Bitcoin then, not so Dogecoin.

And as a finalizer, we can again quote the top statistics:

And here is some data from CRYPKYP Calculator for the last 320 days.

We can make a summary of how Dogecoin has performed hourly in terms of other assets:

• DOGE / TSLA – 110% – Dogecoin has performed best in Tesla stocks, with more than doubled its value for the last almost a year. That means that on an hourly basis, Tesla has performed much worse than any other asset.
• DOGE / USD – 11.64% – Second place in USD terms. The USD may have gained a peak several months ago, but from there on, other assets have outperformed it. Dogecoin is one of them.
• DOGE / BTC – 7.91% – For third place comes Bitcoin. Dogecoin has kept good momentum, according to other crypto assets. In our table, BTC has performed worse than ETH or LTC.
• DOGE / XAU – 7.41% – Next is Gold. It’s a good example of how an asset can have a higher price than 320 days ago (Gold) and another asset has a lower value for the same period (Dogecoin). Still, on an hourly basis, the asset with a lower percentage value wins.
• DOGE / ETH – 7.25% – As all knows, Ethereum has performed better than Bitcoin, so it’s no surprise that it is in a lower place than BTC.
• DOGE / BGN – 6.87% – It’s good to see your currency (LEV, the same as EURO, basically) perform better than all other assets in the table.
• DOGE / LTC – -24.16% – And one crypto that beat Dogecoin last year is Litecoin. Many people (including me and others around me) expected Litecoin to blossom on the last Bull Run, but it has not. In that accord, it has lost much less than other assets. 320 days ago, LTC had almost the same price as now (around $100), but in hour percentage terms, it has gained more than 13% in USD terms.

More from us soon. Until then, let: