**New investors only hold 25%**
The data from the report showed that new investors had been increasing their holdings over time. As of July 2020, new investors only held9% of the total supply. But this number had risen to 25% in 2021 following the popularity of the coin. Data shows that new investors were increasing their holdings in Doge. While old investors had decreased their holdings during the rally.
Old investors in this case were grouped as investors who had held on to their Doge for more than two years. These investors had accounted for 30% of the total supply back in July 2020. And today, that number has dropped down to 20%. This is expected in an asset that spent a long time in a bear. Investors look to take profits once there is a significant uptick in the price of the asset.
Dogecoin also experienced a major increase in the number of daily active users in 2021. This number has grown with the price of Doge. Peaking at the all-time high, before correcting downwards as the coin price crashed. On average, on-chain data shows that there are 32,000 daily active users of the meme coin.
**Minority holds majority Dogecoin supply**
To put this in perspective, Dogecoin currently has a supply of 130 billion coins. The Chainalysis data shows that 0.01% of holders hold 82% of the total supply. This puts it at only 535 entities owning the majority of Doge’s supply. Putting the number held by these entities at a cumulative 106 billion coins held between them.
Of these 106 billion coins, 37 billion is held by only 31 investors. Putting the investors’ holdings at over 1 billion coins each on average. These holders have held on to their coins for at least six months to 2 years.
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