The popularity of Dogecoin (DOGE), a cryptocurrency born out of an internet meme, is experiencing a resurgence, marking significant growth two years after the onset of the COVID-19 pandemic. Recent data from on-chain analytics firm IntoTheBlock reveals that the number of cryptocurrency addresses holding DOGE has surpassed the 5 million mark for the first time.

狗狗幣 (DOGE) 是源自網路迷因的加密貨幣，其受歡迎程度正在復蘇，標誌著新冠肺炎 (COVID-19) 大流行爆發兩年後的顯著增長。鏈上分析公司 IntoTheBlock 的最新數據顯示，持有 DOGE 的加密貨幣位址數量首次突破 500 萬大關。

Dogecoin hits a new active wallets milestone

狗狗幣活躍錢包達到新的里程碑

In conjunction with this milestone, the DOGE network has witnessed a notable increase in active addresses, exceeding 168,000 and reaching levels not seen since March 2022. Additionally, the Dogecoin blockchain has experienced a substantial spike in confirmed transactions, reaching the highest point since June. Impressively, the transaction count has surged by an astonishing 1,000% in the past 10 days. However, amid these positive indicators, concerns persist regarding the concentration of ownership within the DOGE market.

伴隨這一里程碑，DOGE 網路的活躍地址顯著增加，超過168,000 個，達到2022 年3 月以來的最高水平。此外，狗狗幣區塊鏈的已確認交易量大幅飆升，達到6 月以來的最高點。令人印象深刻的是，過去 10 天內交易數量驚人地激增了 1,000%。然而，在這些積極的指標中，人們對 DOGE 市場所有權集中的擔憂仍然存在。

BitInfoCharts reports that fewer than 5,000 addresses control over 80% of DOGE’s total supply. This concentration implies that a relatively small number of traders wield considerable influence over the cryptocurrency’s price dynamics. Despite these ownership disparities, DOGE’s market capitalization has seen a 14% increase, reaching nearly $11 billion over the month. The origins of Dogecoin’s rise to prominence can be traced back to early 2021 when Tesla CEO Elon Musk’s tweets featuring DOGE-related memes garnered widespread attention.

BitInfoCharts 報告稱，不到 5,000 個位址控制著 DOGE 總供應量的 80% 以上。這種集中意味著相對少數的交易者對加密貨幣的價格動態具有相當大的影響力。儘管存在這些所有權差異，DOGE 的市值仍成長了 14%，本月達到近 110 億美元。狗狗幣的崛起可以追溯到 2021 年初，當時特斯拉執行長馬斯克發布的與狗狗幣相關的表情包引起了廣泛關注。

Musk’s influence played a pivotal role in the cryptocurrency’s notoriety and even inspired the creation of other dog-themed tokens like Shiba Inu. The broader surge of joke cryptocurrencies during this period can be attributed to a confluence of factors, including the lockdown measures prompted by the pandemic, government stimulus checks, and unprecedented monetary easing by central banks, fostering a climate of increased risk-taking in financial markets.

馬斯克的影響力在加密貨幣的惡名中發揮了關鍵作用，甚至啟發了柴犬等其他以狗為主題的代幣的創建。在此期間，笑話加密貨幣的大範圍激增可歸因於多種因素的綜合作用，包括大流行引發的封鎖措施、政府刺激檢查以及央行前所未有的貨幣寬鬆政策，從而助長了金融市場風險承擔的氣氛。

Challenges in ownership concentration

股權集中度的挑戰

As DOGE continues to capture the interest of a growing number of cryptocurrency enthusiasts, the current statistics reflect a significant uptick in adoption and usage. The positive correlation between increased adoption and a cryptocurrency’s market value is evident in DOGE’s market capitalization, which has seen substantial growth in recent weeks. While the surge in addresses and transactions paints a picture of growing popularity, the concentration of ownership remains a key concern for the DOGE community.

隨著 DOGE 繼續吸引越來越多加密貨幣愛好者的興趣，當前的統計數據反映出其採用和使用量顯著上升。 DOGE 的市值在最近幾週大幅增長，採用率的提高與加密貨幣的市場價值之間的正相關關係顯而易見。雖然地址和交易的激增描繪了越來越受歡迎的景象，但所有權的集中仍然是 DOGE 社區的一個主要問題。

The fact that a relatively small number of addresses hold a substantial portion of the total supply raises questions about the potential for market manipulation and the influence of a select group of traders on DOGE’s price movements. Despite these challenges, DOGE’s resilience and enduring popularity suggest that the cryptocurrency has carved out a niche for itself in the broader digital asset landscape. The recent market capitalization increase is indicative of a positive trend, but stakeholders and investors will likely continue to monitor the distribution of ownership.

事實上，相對較少的地址持有總供應量的很大一部分，這引發了人們對市場操縱可能性以及特定交易者群體對 DOGE 價格走勢影響的質疑。儘管面臨這些挑戰，DOGE 的韌性和持久的受歡迎程度表明，這種加密貨幣已經在更廣泛的數位資產領域為自己開闢了一個利基市場。最近的市值成長顯示了積極的趨勢，但利害關係人和投資者可能會繼續監控所有權的分配。

This will help them to assess the overall health and stability of Dogecoin’s market. Dogecoin’s journey from a meme-inspired cryptocurrency to a significant player in the digital asset space highlights the dynamic nature of the crypto market. The ongoing growth in adoption and transaction activity, coupled with concerns about ownership concentration, underscores the need for vigilance and thoughtful analysis as DOGE continues to navigate the evolving landscape of the cryptocurrency ecosystem.

這將有助於他們評估狗狗幣市場的整體健康狀況和穩定性。狗狗幣從受迷因啟發的加密貨幣到數位資產領域的重要參與者的旅程凸顯了加密市場的動態本質。採用和交易活動的持續成長，加上對所有權集中度的擔憂，凸顯了在 DOGE 繼續駕馭加密貨幣生態系統不斷變化的格局時，需要保持警惕和深思熟慮的分析。