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This decline indicates that some of the largest holders of Dogecoin are lightening their positions, potentially altering the dynamics of the market.The percentage of the supply held by those owning more than 0.1% each has dropped from 45.3% to 41.3%.Conversely, the same period has seen a notable increase in the share of Dogecoin held by retail and mid-sized investors. As whale holdings diminish, these smaller investors now command a larger portion of the total supply.
The on-chain data revealing the decrease in Dogecoin whale holdings and the subsequent increase in retail and mid-sized investor participation highlights a significant shift in the market.As the dynamics of Dogecoin ownership evolve, market participants will be closely watching to see how these changes impact price movements and overall market activity.At the time of writing, Dogecoin price was posting a rebound, up 3.14% in the last 24 hours to $0.123 after reaching lows of $0.
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