Dogecoin, one of the prominent cryptocurrencies, is drawing attention from the community due to its strong distribution in large wallets. In this article, we will review the largest Dogecoin wallets, from those owned by major exchanges like Binance to special addresses such as the Dogeparty burn wallet. Let’s explore the distribution of Dogecoin and the significant transactions related to these wallets. For the latest trends and updates on Dogecoin and other cryptocurrencies, you can check out CryptoFinHub.
1. Robinhood wallet
- Dogecoin holdings: 31.8 billion DOGE
- Equivalent value: 5.2 billion USD
- Wallet address: DEgDVFa2DoW1533dxeDVdTxQFhMzs1pMke
This is currently the wallet holding the largest amount of Dogecoin, accounting for approximately 23.4% of the total global DOGE supply. Although Robinhood manages several Dogecoin wallets, this remains the largest and most prominent. It is likely that this wallet is a cold wallet, as all transactions from this wallet, except for one, are incoming transactions.
The Robinhood wallet first received Dogecoin in May 2023, and since then, it has continued to receive periodic transactions. A notable example occurred on June 2, 2023, when this wallet received six consecutive transactions, each containing 680 million DOGE.
It is not surprising that Robinhood holds the top spot with the largest DOGE volume. In mid-2021, when Dogecoin began gaining public attention and becoming widely known, Robinhood was seen as the ideal platform for newcomers to easily buy and sell Dogecoin without difficulty.
2. Binance wallet
- Dogecoin holdings: 8.9 billion DOGE
- Equivalent value: 1.4 billion USD
- Wallet address: DE5opaXjFgDhFBqL6tBDxTAQ56zkX6EToX
The Binance wallet holds the third-largest amount of Dogecoin, owned by Binance, the world’s leading cryptocurrency exchange by trading volume and number of users. This wallet has been operational since July 2019, when Binance began supporting Dogecoin transactions on its platform.
As of 2023, the Binance wallet records only a few transactions each month. Combined with the fact that most transactions contain millions of dollars worth of DOGE, it is highly likely that this is a cold wallet used by Binance to secure its customers’ Dogecoin holdings, ensuring long-term safety.
3. Unknown whale
Amount of DOGE held: 7.2 billion DOGE
Estimated value: 1.1 billion USD
Wallet address: D8ZEVbgf4yPs3MK8dMJJ7PpSyBKsbd66TX
This whale is one of the largest holders of Dogecoin, but its identity remains unknown. With approximately 5.6% of the total supply of DOGE, this wallet has attracted attention from the cryptocurrency community. The first DOGE transaction occurred in November 2022, and since then, this wallet has consistently received large transactions, sometimes up to millions of DOGE.
These transactions mainly fluctuate around 10 million DOGE each time, and sometimes the wallet also sends out large transactions. To date, this wallet has received a total of 11.4 billion DOGE, while sending out about 3.4 billion DOGE.
Despite being one of the largest Dogecoin wallets, the identity of its owner remains completely mysterious. We have yet to determine who is behind this wallet.
4. Cryptsy exchange wallet
Amount of DOGE held: 5 billion DOGE
Estimated value: 822 million USD
Wallet address: DDTtqnuZ5kfRT5qh2c7sNtqrJmV3iXYdGG
This Dogecoin wallet is one of the largest in the Dogecoin community and is linked to a sad chapter in the cryptocurrency industry’s history. It belongs to the now-defunct exchange Cryptsy, which has not been in operation for many years.
The first DOGE transaction in this wallet occurred in January 2014, just months after Dogecoin was launched in late 2013. One of the first transactions was a large transfer of DOGE, marking the beginning of this wallet’s activity. However, the last major transaction this wallet received was on January 27, 2023.
Since then, the wallet mainly receives small transactions, which could simply be test transactions from ordinary Dogecoin users. Cryptsy filed for bankruptcy in 2016, and currently, a legal battle is underway to return the funds held by the exchange to the rightful owners.
5. Binance exchange wallet
Amount of DOGE held: 1.3 billion DOGE
Estimated value: 217 million USD
Wallet address: DGmzv39riELTuigZCUD6sWoHEHPdSbxdUB
This wallet is believed to belong to Binance, the famous cryptocurrency exchange. With only one large outgoing transaction, where the exchange transferred 1.4 billion DOGE, this wallet may be used as a cold storage to protect the large DOGE holdings. Apart from this large transaction, the wallet occasionally receives small transactions, including test transactions of just 0.001 DOGE. This suggests that the wallet may be used to store and protect a large amount of DOGE over the long term.
6. Dogeparty burn address
- Dogecoin holdings: 1.8 billion DOGE
- Equivalent value: 303 million USD
- Wallet address: DDogepartyxxxxxxxxxxxxxxxxxxw1dfzr2
This is a special address used to “burn” Dogecoin, meaning that any DOGE sent to this address will be permanently destroyed. No one has access to the private key to move these DOGE, so they cannot be used anymore. This address is associated with the Dogeparty project, where users were encouraged to participate in the burning of DOGE as part of the XDP token launch campaign. However, the project failed and was abandoned, which means the DOGE at this address could remain there forever unless there is a major change in Dogecoin’s cryptographic technology in the future.
7. A Cryptocurrency exchange
- Dogecoin holdings: 3.9 billion DOGE
- Equivalent value: 645 million USD
- Wallet address: ADNbM5fBujCRBW1vqezNeAWmnsLp19ki3n
We have not been able to confirm the exact owner of this wallet, but based on the transaction behavior and activity pattern, it is likely the wallet of a cryptocurrency exchange. This wallet processes dozens of transactions every day, with a reasonable mix of incoming and outgoing transactions. The transaction sizes vary, ranging from small to medium, with occasional large transactions. Therefore, we have reason to believe that this is a hot wallet used by a cryptocurrency exchange to handle daily deposit and withdrawal transactions of Dogecoin for its customers.
With its widespread distribution in large wallets and exchanges, Dogecoin is not only a popular cryptocurrency but also a powerful asset in the community. Monitoring and understanding these large wallets will help investors and enthusiasts stay on top of trends and the future development of Dogecoin.
