Dogecoin is one of the most popular cryptocurrencies, but how many Dogecoins are in circulation, and who owns the most? Check out this article to learn more about Dogecoin and the influential people that hold it.
Who Owns the Most Dogecoins?
According to Benzinga, it’s possible that the holder with the most Dogecoin is actually Robinhood, and not, as many people speculate, Elon Musk. Shocking! It’s somewhat ironic that Robinhood might be the largest holder of this meme coin, especially considering the Robinhood controversy during the Gamestop stock’s meteoric rise.
Regardless, it does make sense that Robinhood holds a lot of Doge, especially considering they own an entire exchange that offers the coin. Other than the single biggest holder of Doge, there are countless influential members of the Doge community. Elon Musk is probably the most famous proponent of Dogecoin and probably the person most responsible for pumping Dogecoin’s price. Still, Musk isn’t the only high-profile proponent of Dogecoin.
Mark Cuban is also a trailblazer in the adoption of crypto and began accepting Dogecoin as a form of payment for Dallas Maverick’s tickets and merchandise.
How Many Dogecoin Are in Circulation?
The total amount of Doge in circulation is absurd because approximately 10,000 Dogecoins are mined every minute, for a total of 1,440,000 per day. Yes, you read that right. Consider that there will only be 21 million Bitcoin mined ever, and you see why many critics believe Doge will never reach $1.
At the time of writing, there are approximately 132 billion Dogecoins in circulation.
What Can Dogecoin Be Used For?
Dogecoin might have started out as a joke, but it’s currently a very useful coin that can be used as a form of payment in many places. Many companies accept Dogecoin payments, and as previously mentioned, the Dallas Mavericks accept Dogecoin payments for their tickets and merchandise.
The Mavs aren’t alone in adopting Doge payments. Tesla also accepts Dogecoin to purchase certain eligible products, and they go a step further by exclusively accepting Dogecoin (having dropped Bitcoin support). But, sadly, while Tesla makes some of the best performance EVs, you can’t purchase cars from them using Doge.
Dogecoin Is Strongly Positioned
Dogecoin is very strongly positioned in the crypto payment sphere. In the case of Doge, it has developed a loyal following that uses the coin practically for payments and the like. This is especially funny because the coin that was originally a joke is one of the most useful coins on the market.