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 <p class="is-style-lead">The number of Dogecoin <a rel="noopener noreferrer nofollow" title="wallets" href="https://thebittimes.com/tag/wallets.html">wallets</a> holding over $1 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> has nearly halved this year, registering a 40% <a rel="noopener noreferrer nofollow" title="decline" href="https://thebittimes.com/tag/decline.html">decline</a> since last November.&nbsp;</p>
 <p>The number of Dogecoin (DOGE) <a rel="noopener noreferrer nofollow" title="millionaire" href="https://thebittimes.com/tag/millionaire.html">millionaire</a>s has <a rel="noopener noreferrer nofollow" title="declined" href="https://thebittimes.com/tag/declined.html">declined</a> by more than 40% year-to-year, according to data from BitInfoCharts. Despite the meme coin’s 30% surge in a month, it’s still over 10% short of its value from last November, a massive 90% off from its all-time high back in 2021. This rather steady <a rel="noopener noreferrer nofollow" title="decline" href="https://thebittimes.com/tag/decline.html">decline</a> over the past two years could be a key reason why DOGE <a rel="noopener noreferrer nofollow" title="millionaire" href="https://thebittimes.com/tag/millionaire.html">millionaire</a>s are becoming scarce.&nbsp;</p>
 <p>In 2022, over 1,000 Dogecoin addresses held more than $1 million in value. As of November this year, this figure has fallen to 635.</p>
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   <img decoding="async" width="910" height="410" src="https://cdn.thebittimes.com/images/2023/11/14/ee5cb9cd86fe22c370a3cd17b31f5d2e.webp" alt="Dogecoin (DOGE) rich list"> 
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 <p>Breaking down these numbers, 548 of these addresses currently hold at least $1 million in Dogecoin, while 87 of them have balances exceeding $10 million. This reduction in high-value holdings reflects the broader decrease in Dogecoin’s market price, which has nearly halved over the year, plummeting from $0.15 to $0.08.</p>
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 <p>Notably, the number of Dogecoin addresses with holdings above $1 million has declined from 887 to 548. Similarly, the number of addresses with over $10 million in DOGE has been reduced from 160 to 87.</p>
 <h2 class="wp-block-heading" id="vanishing-confidence-in-meme-coins">Vanishing confidence in meme coins</h2>
 <p>This downturn mirrors a wider trend in the meme coin market, such as Pepe (PEPE), Shiba Inu (SHIB), and Floki (FLOKI), which have also seen diminished interest. Pepe, despite being up by a massive 94% in a month, has seen many investors exiting.&nbsp;</p>
 <p>These statistics drive a wider concern about the long-term prospects of meme coins. Earlier this year, a study by Chainplay revealed that nearly 70% of crypto investors invest in meme coins for fun rather than having a HODL perspective.&nbsp;</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/dogecoin-doge-millionaire-wallets-declined-by-40-in-2023-tbt70128.html">https://thebittimes.com/dogecoin-doge-millionaire-wallets-declined-by-40-in-2023-tbt70128.html</a></p>

Dogecoin (DOGE) millionaire wallets declined by 40% in 2023

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