Big Dogecoin (DOGE) Whales Cut Their Positions As Retail Investors Land

In the past year, there has been a significant change in the distribution of Dogecoin holdings.

Indeed, the collection of DOGE whalers gradually reduced their holdings, which, in turn, may have been held by retail and medium-sized Mem coins.

Distribution of DOGE whales

According to IntoTheBlock's latest analysis, the largest Dogecoin whales – holders of more than 0.1% of the total supply – are reducing their positions.

Interestingly, their joint share has decreased from 45.3% to 41.3%. This reduction reflects the re-distribution of the OG meme coin, with retail and mid-sized investors now having a larger share of the supply.

This corresponds to an increase in supply held by entities with balances between 100 million and 1 billion DOGE. This further confirmed the trend of Dogecoin being sold by the big whales or re-distributed by mid-sized owners.

“Over the past year, the largest Dogecoin whales have been reducing their holdings. The amount of supply held by people with more than 0.1% each has dropped from 45.3% to 41.3%. In contrast, retail and intermediate investors have a larger share of the total supply.”

Dogecoin ETF Soon?

Dogecoin has seen a significant decline in its value recently. Over the past week or so, Memecoin has dropped roughly 20%, dragging its price down to $0.124.

While the whale redistributive trend may point to more losses to come, what could boost Dogecoin's ride in the future is the launch of Dogecoin ETFs. Many pundits believe that it may be especially after the SEC's approval of spot Ethereum ETFs.

According to BitMEX co-founder Arthur Hayes, Dogecoin can secure the safety of ETFs at the end of this cycle. In a recent interview with Real Vision co-founder Raul Pal, Hayes highlighted Dogecoin's growth over the years and the fact that it is the oldest meme coin in the space, giving it a competitive advantage over other meme coins that have emerged in recent years.