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Dogecoin saw double-digit gains, with one address still holding 28 percent of the DOGE supply

The meme-crypto asset dogecoin has enjoyed double-digit gains this week, according to statistics, with the meme-crypto asset up 19.66 percent in the last seven days. Dogecoin has outperformed the competition among the top ten digital currencies in terms of market capitalization, even surpassing ethereum’s 18 percent weekly gains.

 

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Google Trends Data Shows DOGE Interest Dive-Bombed After May

At the time of writing, both the topic dogecoin and the hashtag #dogecointothemoon were trending on social media Sunday afternoon, outshining the competition. In terms of interest, Google Trends (GT) data shows that search inquiries for the terms “dogecoin” and “doge” have decreased dramatically.

Despite the decline, most crypto assets have seen a big drop in GT data, which gauges overall interest. Dogecoin (DOGE) markets, on the other hand, have risen far higher than most crypto assets today, gaining about 20% in the last seven days.

Furthermore, when comparing 12-month figures to the vast majority of the 10,000+ digital assets in existence today, DOGE has outperformed them by a wide margin. Dogecoin is gained 6,849 percent in the last 12 months, according to DOGE statistics as of August 8.

Dogecoin is currently selling at around 0.00000557 BTC per unit, with the stablecoin tether (USDT) accounting for 71% of all trades on Sunday.

The Turkish lira or TRY (3.22 percent) dogecoin pairs are followed by USD (10.81 percent), BTC (4.89 percent), BUSD (4.74 percent), and the Turkish currency or TRY (3.22 percent). The euro is the sixth-largest trading pair with Dogecoin (DOGE), accounting for 1.75 percent of all trades on Sunday.

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

However, Dogecoin (DOGE) is down lower than the rest of the top ten crypto prices today, save for XRP. DOGE hit an all-time high of $0.737 per unit three months ago, and it’s now down 67 percent from that high.

According to Into the Block statistics, DOGE now has a concentration of major holders of roughly 63 percent. The enigmatic “DH5” dogecoin address is still the highest DOGE holder today, with 36 billion Dogecoins, according to data from bitinfocharts.com’s richest dogecoin addresses.

Several ideas have surfaced this year claiming ownership of the “DH5” dogecoin wallet by Robinhood. At the time of writing, the “DH5” dogecoin address had absorbed more than 28% of the whole DOGE supply.

What are your thoughts on the weekly gains in dogecoin (DOGE) and the mystery dogecoin holder with over 28% of the supply? In the comments section below, let us know what you think about this topic.

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Also read: More than 60% of people prefer to purchase items using digital currencies

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