Regarding the distribution of DOGE holdings, there are some common misconceptions in the market. Many people believe that just the top 20 addresses control about 50% of the total supply, but the actual situation is quite different.

In fact, this apparent concentration mainly stems from the custodial behavior of exchanges. A large number of individual investors' DOGE are stored in exchange accounts, which creates an illusion of highly concentrated chips. However, upon deeper analysis, we find that the actual distribution of DOGE holders is quite broad.

This situation stands in stark contrast to Bitcoin and Ethereum. The latter two are gradually concentrating in the hands of institutional investors, presenting a holding pattern that is completely different from that of DOGE. This difference may stem from the varying market positioning of different cryptocurrencies and the differences in investor demographics.

DOGE holders may still face challenges. Due to its wide decentralization, market volatility may be more pronounced, and investors need to be prepared to endure short-term fluctuations.

It is noteworthy that Ethereum's recent performance has been remarkable, as its price has once again broken through the $3800 mark. This trend may have a ripple effect on the entire cryptocurrency market, including the impact on DOGE and other digital assets.

Overall, the distribution of DOGE holdings is far more complex than it appears on the surface. Investors need to consider these factors comprehensively when making decisions, rather than solely relying on superficial data.