Scale and value
The six transactions spent 264 inscriptions. Our estimate of their market value is about USD 0.3 million to USD 1.5 million, depending on which price is used. This is an estimate of what the items were priced at, not of what anyone received or lost. A floor price is not a realizable value.
How many
- 264 inscription-carrying inputs were spent in the six transactions (inputs.csv). Public posts have also said 265; we count 264.
- 201 reached the recipient address in our sat-flow analysis; 63 went to miner coinbase outputs (how).
- The 264 inputs were signed by 194 distinct seller addresses in our analysis. 49 of those addresses had at least one inscription go to a miner, and 42 had all of theirs go to a miner. A third-party post on X also says “194 wallets”, which matches our count. Seller addresses are not published here.
Method
- Choose a DOGE price per item (four scenarios below, each from a cited source).
- Multiply by the item count (264 or 201).
- Convert with a DOGE/USD reference price. We use USD 0.07704 per DOGE, the CoinGecko hourly value near the transactions (2026-10-26 11:00 UTC). The range across Oct 26 to Oct 28 was 0.0767 to 0.0804 (doge_usd_reference.csv).
| Scenario | Price basis | DOGE per item | USD per item | USD total, 264 items | USD total, 201 items |
|---|---|---|---|---|---|
| S1 | Lowest listed price on doggy.market, page retrieved Oct 28 2026 | 19,900 | 1,533 | 405,000 | 308,000 |
| S2 | Floor price in the marketplace’s own stats API, snapshot Oct 27 (may be stale; see below) | 47,000 | 3,621 | 956,000 | 728,000 |
| S4 | Mean of two on-chain marketplace sales on Oct 21 2026 (57,000 and 45,599.05 DOGE) | 51,300 | 3,952 | 1,043,000 | 794,000 |
| S3 | 30-day average sale price in the marketplace’s stats API (29 trades), snapshot Oct 27 | 71,409 | 5,501 | 1,452,000 | 1,106,000 |
Full figures, including totals at the low and high DOGE/USD prices, are in value_estimates.csv. Rounded to the nearest thousand dollars.
Why these are estimates, and why floor is not realizable value
- Thin market. On the doggy.market page we read, 36 items were listed. Selling hundreds of items into that depth would have moved the price.
- Items differ. A floor price is the cheapest listing, usually for common traits. Items with rarer traits may be worth more or less.
- Stale data. The marketplace’s own stats API reported 0 listed items on Oct 27 and Oct 28, with the same floor price (47,000 DOGE). That floor may therefore be carried over from before trading was paused.
- Few sales. S4 uses two sales; S3 uses 29 trades over 30 days, a small sample.
- Not a loss figure. We do not know what holders realized, what they would have realized, or whether any items will be returned or restored. Dogecoin price moves also change every USD figure.
Checking common public figures
| Figure seen in public discussion | What we found |
|---|---|
| About 264 to 265 items | 264 spent inputs. 265 not supported by our count. |
| Floor around USD 1,500 on doggy.market | Consistent: 19,900 DOGE, shown as about USD 1,586 on the page on Oct 28 (USD 1,533 at our reference price). |
| Floor around USD 4,500 on the marketplace | Not supported at Oct 26 prices. The marketplace’s stats floor of 47,000 DOGE is about USD 3,600. We did not find a primary source for USD 4,500 on Oct 26. |
| “Biggest NFT hack ever” | Not supported by our estimates. See below. |
Is it the largest incident?
We do not rank incidents here, because the incident types differ and values are estimates. For context, on the precedent page two earlier incidents that we verified had reported USD figures higher than our upper estimate: the OpenSea phishing wave of Feb 2022 (254 NFTs, about USD 1.7 million reported) and the Bored Ape Yacht Club Instagram compromise of Apr 2022 (about 91 NFTs, about USD 2.8 million reported). By item count, 264 is higher than both. Larger incidents involving other assets exist, and we did not attempt a full survey.
Within the Dogecoin inscription ecosystem, we did not find a larger single event, but our search was not exhaustive, so we do not assert that this is the largest.