Shiba

Cryptocurrency

Dogecoin

Shiba Inu

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 <p class="paragraph">Dogecoin (DOGE) has witnessed a notable decline in value over the past year, leading to a significant reduction in the number of accounts holding more than $1 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> in this cryptocurrency.&nbsp;</p>
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 <p class="paragraph">The latest figures contrast substantially with 2022 when the number of addresses holding the meme coin was above 1,000.</p>
 <p class="paragraph">As of November 13, the number of DOGE addresses possessing over $1 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> stood at 635, a decline from the 1,046 addresses on November 1, 2022.</p>
 <p class="paragraph">548 DOGE holders currently maintain a balance of $1 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> or more. Additionally, there are 87 addresses with a balance exceeding $10 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a>, according to data from <em>BitInfoCharts.com</em>.</p>
 <figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="959" height="530" src="https://cdn.thebittimes.com/images/2023/11/13/a21f51ba6848bf4bff8300256603ee10.webp" alt="Dogecoin distribution as of November 13, 2023. Source: BitInfoCharts
" class="wp-image-137095" srcset="https://cdn.thebittimes.com/images/2023/11/13/a21f51ba6848bf4bff8300256603ee10.webp 959w, https://cdn.thebittimes.com/images/2023/11/13/a21f51ba6848bf4bff8300256603ee10.webp 300w, https://cdn.thebittimes.com/images/2023/11/13/a21f51ba6848bf4bff8300256603ee10.webp 768w" sizes="(max-width: 959px) 100vw, 959px">
  <figcaption class="wp-element-caption">
   Dogecoin distribution as of November 13, 2023. Source: BitInfoCharts
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 <p class="paragraph">A decline in the number of DOGE <a rel="noopener noreferrer nofollow" title="millionaires" href="https://thebittimes.com/tag/millionaires.html">millionaires</a> could be tied to a significant drop in the asset’s value over the past year. The value plummeted by almost 50% during this period, from $0.15 on November 1, 2022 to $0.08. This bearish sentiment correlates with the decreased interest in meme coins such as Pepe (PEPE), Shiba Inu (SHIB), and Floki (FLOKI).</p>
 <p class="paragraph">A significant decrease in Dogecoin’s value has reduced the number of addresses holding over $1 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a>, dropping from 887 to 548. Similarly, those with holdings exceeding $10 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> have decreased from 160 to 87.</p>
 <p class="paragraph">It’s essential to note that a feature of this asset is that a single holder can possess multiple addresses, which could lead to the current count being subject to further inaccuracies due to this factor.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="633" src="https://cdn.thebittimes.com/images/2023/11/13/897a6b50e7db43f6cb6d85dfea4b2609.webp" alt="Dogecoin distribution as of November 1, 2022.  Source: BitInfoCharts
" class="wp-image-137096" srcset="https://cdn.thebittimes.com/images/2023/11/13/897a6b50e7db43f6cb6d85dfea4b2609.webp 1024w, https://cdn.thebittimes.com/images/2023/11/13/897a6b50e7db43f6cb6d85dfea4b2609.webp 300w, https://cdn.thebittimes.com/images/2023/11/13/897a6b50e7db43f6cb6d85dfea4b2609.webp 768w, https://cdn.thebittimes.com/images/2023/11/13/897a6b50e7db43f6cb6d85dfea4b2609.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Dogecoin distribution as of November 1, 2022. Source: BitInfoCharts
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 </figure>
 <h2 class="wp-block-heading" id="h-dogecoin-price-analysis">Dogecoin price analysis</h2>
 <p class="paragraph">At the time of press, DOGE was changing hands at $0.08, marking an -1.75% decrease over the 24-hour period, contrary to the gains made over the 7-day period, which amounted to 8.00% positive change in value and those made over the 30-day period that added up to 32.78% added value.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/11/13/7a66c4d1e411d5bdf8dd9cdd1e46db60.webp" alt="Dogecoin 24-hour price chart.  Source: Finbold
" class="wp-image-137097" srcset="https://cdn.thebittimes.com/images/2023/11/13/7a66c4d1e411d5bdf8dd9cdd1e46db60.webp 1024w, https://cdn.thebittimes.com/images/2023/11/13/7a66c4d1e411d5bdf8dd9cdd1e46db60.webp 300w, https://cdn.thebittimes.com/images/2023/11/13/7a66c4d1e411d5bdf8dd9cdd1e46db60.webp 768w, https://cdn.thebittimes.com/images/2023/11/13/7a66c4d1e411d5bdf8dd9cdd1e46db60.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Dogecoin 24-hour price chart. Source: Finbold
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 </figure>
 <p class="paragraph">Current data represent a decrease of this asset from its all-time high of -89%, with it being outperformed by 80% of the top 100 crypto assets in the previous year.</p>
 <p class="paragraph">However, not everything looks bleak for DOGE. In the previous month, it experienced 20 green days while trading above the 200-day moving average.</p>
 <p class="paragraph"><br><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/number-of-dogecoin-millionaires-plunges-by-40-in-a-year-tbt70095.html">https://thebittimes.com/number-of-dogecoin-millionaires-plunges-by-40-in-a-year-tbt70095.html</a></p>

Number of Dogecoin millionaires plunges by 40% in a year

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