10 Companies That Own the Most Dogecoin (2024)
Key Takeaways
- Memecoins, such as Dogecoin, have gained cultural significance in cryptocurrency. They are supported by public figures and have influenced even the creation of a government department.
- Major companies like Robinhood and Binance hold significant amounts of Dogecoin, and exchanges manage vast reserves, contributing to DOGE’s liquidity and market activity.
- Institutional investors, including Spirit Blockchain and Tesla, are showing growing interest in Dogecoin. They are highlighting its potential beyond meme status and exploring new use cases.
- Dogecoin’s practical use cases include tipping, charitable contributions, merchant payments, and in-game purchases, with increasing institutional integration and adoption prospects.
Memecoins are an excellent representation of the cryptocurrency market, defying traditional fundamentals of trading. What started as a dog meme has become an essential part of cryptocurrency culture and has now inspired an entire department of the US government, the Department of Government Efficiency (DOGE). With support from figures like Elon Musk, Snoop Dogg, and Mark Cuban, it’s no surprise how influential cryptocurrency has become.
Many companies have now also bought into the crypto, seeing it as a viable speculative asset as it continues to gain popularity. In this article, we’ll highlight the top 10 companies with the largest Dogecoin holdings, briefly explaining their relationship with crypto and major stories.
10 Companies That Own the Most Dogecoin
| Platform | Dogecoin (DOGE) Holding |
|---|---|
| Robinhood Exchange Wallet | 30.9 billion |
| Binance Exchange Wallet | 10.6 billion |
| A Potential Crypto Exchange | 4.0 billion |
| Cryptsy Exchange Wallet | 5.0 billion |
| Spirit Blockchain Capital | Unknown |
| Dogeparty Burn Address | 1.8 billion |
| Tesla | Unknown |
| Bybit-Wallet | 1.4 billion |
The biggest DOGE wallets are like anonymous whales basking in the crypto sea, holding massive amounts of Dogecoin. The largest of these wallets clutches a staggering 38.43 billion DOGE, which makes up 27.95% of the total supply—talk about having your paws on the biggest bone!
Now, trying to sniff out the top 10 companies holding the most DOGE? That’s trickier than finding a specific squirrel in a digital forest. Thanks to cryptocurrency’s decentralized nature, pinpointing these big names is challenging. Most of these hefty DOGE caches are likely under the watchful eyes of major crypto exchanges and wallet providers, who hold significant amounts on behalf of their users.
Here’s a list of the companies, centralized exchanges, and addresses with the largest DOGE holdings in no particular order.
1. Robinhood Exchange Wallet
Dogecoin: Approximately 30.9 billion
- CEO: Vladimir Tenev
- Founded: 2013
Robinhood didn’t start as a crypto service provider. It initially aimed to make stock trading accessible with its commission-free model. However, when the crypto craze hit full steam, Robinhood had already secured its place as one of the largest custodians of DOGE. Its foray into crypto trading proved to be a double-edged sword. On the one hand, it attracted millions of crypto enthusiasts; on the other, it drew criticism during the infamous 2021 meme stock trading frenzy when it placed trading restrictions.
2. Binance Exchange Wallet
Dogecoin: Approximately 10.6 billion
- CEO: Changpeng “CZ” Zhao
- Founded: 2017
Binance is the world’s largest cryptocurrency exchange by trading volume. It holds over 10 billion DOGE to ensure trading liquidity within its ecosystem. Binance also actively supports Dogecoin by implementing a variety of DOGE trading pairs and hosting special promotions and trading competitions centered on the memecoin.
Binance’s actions have helped Dogecoin maintain visibility through its extensive global reach. From meme-inspired campaigns to DOGE-themed events, Binance has helped keep the coin relevant and accessible.
3. A Potential Crypto Exchange
Dogecoin: Approximately 4.0 billion
Data by BitInfoCharts reveals an intriguing Dogecoin wallet exhibiting classic exchange hot wallet behavior. The on-chain metrics paint a fascinating picture: constant transaction velocity with multiple inputs and outputs occurring throughout each 24-hour cycle.
The transaction flow shows remarkable diversity:
- Microtransactions as low as 100 DOGE
- Regular mid-sized transfers in the 10,000-100,000 DOGE range
- Periodic whale-sized movements exceeding 1,000,000 DOGE
The wallet’s signature patterns align strongly with custodial service characteristics. The transaction clustering and velocity metrics suggest the address serves as a primary liquidity hub within the Dogecoin network. While direct ownership attribution remains pseudonymous (as designed by blockchain architecture), the operational fingerprint matches documented patterns of major decentralized trading venues.
4. Cryptsy Exchange Wallet
Dogecoin: Approximately 5.0 billion
An old wallet tied to Cryptsy, a now-defunct exchange, holds an impressive 5,031,001,963.62 DOGE with a USD value of approximately 1.86 billion. This wallet, one of the most intriguing ones due to its inactivity, accounts for 3.43% of the total DOGE supply. The first recorded transaction in this wallet was on January 11, 2014, with the last incoming transaction on September 19, 2024. It has a brief history of outgoing transactions, with the first and only sent transaction occurring on January 13, 2014. The wallet still has 615 unspent transactions.
Despite its inactivity, the wallet remains a point of interest for the DOGE community and market analysts.
5. Spirit Blockchain Capital
Dogecoin: Unknown
Spirit Blockchain Capital is making bold moves to strengthen its relationship with Dogecoin. Under the leadership of CEO Lewis Bateman, the company acquired Dogecoin holdings in late 2024. Their goal is straightforward: to establish a substantial Dogecoin balance sheet and develop the wider Dogecoin ecosystem. They see potential beyond the meme status and are serious about giving DOGE more institutional credibility.
Spirit Blockchain Capital is also planning to roll out an ETF platform specifically for Dogecoin, along with a Dogecoin payment gateway. These steps mark their ambition to position themselves as a publicly-traded investment proxy for Dogecoin. Bateman’s vision is clear – he wants to integrate DOGE into structured investment channels, pushing it past its origins into more formal financial territory.
Bateman, speaking on DOGE, summed it up well when he said, “Everyone just thought it was a joke, but it actually has some meaningful underlying abilities that are unique.” Spirit Blockchain is showing that the joke coin has matured and deserves serious attention, proving its value through strategic initiatives and technological developments.
6. Dogeparty Burn Address
Dogecoin: Approximately 1.8 billion
This Dogecoin wallet holds approximately 1.8 billion DOGE. The wallet, identified as DDogepartyxxxxxxxxxxxxxxxxxxw1dfzr2, functions as a burn address. No one possesses the private keys to move the DOGE stored in it, rendering any DOGE sent to the address effectively destroyed.
The address is tied to a project known as Dogeparty, which encouraged participants to burn their DOGE to create a token called XDP. Despite initial enthusiasm, the Dogeparty project lost momentum and was eventually abandoned. The DOGE in this wallet will likely remain untouched indefinitely, barring any significant cryptographic breakthroughs that could compromise Dogecoin’s security.
Occasionally, the wallet still receives small transactions, likely test or spam transfers. These transactions do not change the wallet’s status as a burn address, cementing its role in permanently removing DOGE from circulation.
7. Tesla, Inc.
Dogecoin: Unknown
Tesla, the electric vehicle and clean energy company led by Elon Musk, has a unique relationship with Dogecoin. In December 2021, the company began testing DOGE as payment for merchandise, allowing customers to purchase items like apparel, belt buckles, and mini vehicle models.
While Tesla famously sold 75% of its Bitcoin holdings in Q2 2022, the company confirmed it retained all of its Dogecoin holdings, though the exact amount hasn’t been disclosed. Of their $218 million in digital assets, a portion is believed to be in DOGE.
The relationship is primarily driven by CEO Elon Musk, who has been a vocal supporter of Dogecoin. He calls it the people’s crypto and suggests it’s better for transactions than other cryptocurrencies. His tweets and public statements about DOGE have historically significantly impacted its price movements, demonstrating the influence of Musk and Tesla on the cryptocurrency’s market performance.
8. Bybit-Wallet
Dogecoin: Approximately 1.4 billion
Bybit, a major cryptocurrency exchange founded in 2018, has established itself as a significant enabler of the DOGE market. The exchange offers spot trading, futures contracts, and other derivative products for Dogecoin, making it a key retail and institutional DOGE trading platform.
The Bybit wallet address in question, D94tDRhr4X9Tjgr8MG1Nrd5ARpesPAM7ZB, demonstrates classic institutional trading behavior:
- Large Holdings: The wallet contains over 1.4 billion DOGE (approximately $530 million USD), indicating substantial institutional-level investment.
- Transaction Pattern Analysis:
- Inflows: 77 deposit transactions totaling ~1.49 billion DOGE since September 2021
- Outflows: Only 44 withdrawal transactions totaling ~75.3 million DOGE
- The high deposit-to-withdrawal ratio (approximately 20:1) and infrequent outflows suggest this is likely a cold storage or reserve wallet rather than an active trading wallet
- Consistent accumulation pattern from 2021 to 2024, with the last deposit recorded on November 11, 2024
The wallet’s behavior aligns with institutional holding strategies: large-scale accumulation, long-term holding, and minimal outbound transactions for operational needs. The significant profit from price changes also suggests strategic long-term position management.
Other DOGE Use Cases
While Dogecoin (DOGE) started as a meme cryptocurrency, its use cases have evolved significantly. Initially popularized as a fun and light-hearted digital coin, it has found various niches beyond just being a speculative asset. Here are some notable use cases for DOGE:
- Tipping and microtransactions on platforms like Twitch.
- As a way of contributing toward charitable activities.
- For in-game purchases, where users can buy items or upgrades, and purchasing NFTs in digital marketplaces.
- Merchant payments
Looking ahead, DOGE’s future appears promising as institutions continue to show interest in the crypto market. Companies are developing new financial products built around DOGE, allowing it to become more integrated into traditional financial systems.
Closing Thoughts
The future of Dogecoin looks promising, with significant potential for increased adoption and institutional involvement. As more countries clarify their stance on cryptocurrency regulations, DOGE’s adoption will likely grow. These clearer rules will help reduce uncertainties for businesses and investors, making DOGE a more reliable option for financial operations. As a result, DOGE could become a more widely accepted form of payment for goods, services, and even cross-border transactions.
Additionally, the cherry on top was the creation of the Department of Government Efficiency (DOGE), which will keep the market discussing cryptocurrency throughout the department’s existence.
