The value of Dogecoin (DOGE) sank 23% in a matter of hours on Monday after Elon Musk drew attention to the vastly unequal distribution of DOGE tokens and urged major holders to sell off their holdings
Dogecoin has one of the most unequal coin distributions in the cryptocurrency space, with 28.7% being held by just one person and the top 12 holders possessing almost 50% of the supply. On Sunday, Just before midnight UCT, Musk tweeted: