Tesla founder and occasional crypto commentator Elon Musk has drawn awareness to the dogecoin\u2019s dangerous concentration among whale investors.\u00a0<\/p>\n
Musk, who has been a vocal supporter of dogecoin as the internet\u2019s \u201cmeme\u201d currency, warned followers about the top-heavy concentration of DOGE, including one wallet holding 28% of the coin\u2019s total supply.<\/p>\n
In a tweet, Musk said he would support the altcoin if major holders agreed to sell most of their coins. He called concentration the \u201conly real\u201d issue facing the cryptoasset.\u00a0<\/p>\n
Musk followed up his tweet by saying he would pay \u201cactual $\u201d if the top wallets voided their accounts.\u00a0<\/p>\n
Following the growing internet hype for dogecoin, a number of crypto community members pointed out the altcoin\u2019s dangerous concentration among a handful of wallets, including one anonymous address containing 36 billion DOGE, or roughly 28% of the total supply.<\/p>\n
According to data from CoinExplorer, close to 50% of DOGE\u2019s supply is concentrated in the top twenty wallet addresses.\u00a0<\/p>\n