One Month In And 10% Of Dogecoin Millionaires Have Already Disappeared In 2026 – Details

Overview

As 2026 unfolds, Dogecoin’s on-chain wealth metrics have shown a significant shift, revealing that approximately 10% of its millionaire wallets have vanished within just one month. This trend coincides with a notable decline in the meme coin’s price, prompting a closer examination of the dynamics among Dogecoin’s wealthiest holders.

Decline in Millionaire Wallets

Data from the Dogecoin Rich List, sourced from BitInfoCharts, indicates that the number of Dogecoin wallets holding at least $1 million has decreased from 1,052 at the start of 2026 to around 950 by early February. This decline represents a substantial drop, with nearly one in ten wallets falling out of the millionaire category in a remarkably short timeframe. Such rapid changes in the distribution of wealth among Dogecoin holders are uncommon, as previous trends typically exhibit slower adjustments over extended periods.

The timing of this decrease aligns closely with Dogecoin’s performance in the market. The cryptocurrency has experienced a downward trajectory, losing a significant portion of its value since the beginning of the year. Specifically, Dogecoin has faced double-digit percentage losses, shedding about 32% since January 4. The bearish trend began in the latter part of 2025, following a rejection at a price level that led to ongoing corrections.

Price Performance and Its Impact

At the moment, Dogecoin is trading at a value that risks falling below the critical $0.10 mark. Should this occur, it is likely that the number of millionaire holders will further decline. The reduction in millionaire wallets can be attributed to both valuation changes and potential profit-taking behavior among large holders. Many wallets that were previously above the $1 million threshold may have slipped below this level due to the decrease in price, rather than through significant selling of their holdings.

While the decrease in high-value wallets does not necessarily suggest a catastrophic outlook for Dogecoin, it does indicate a shift in the behavior of large holders. Some may be capitalizing on profits, while others could be opting to remain in a holding pattern during these weaker market conditions.

From Author

The rapid decline in Dogecoin millionaire wallets is a notable development in the cryptocurrency landscape, particularly as it reflects the broader trends affecting market sentiment. The interplay between price movements and wallet balances offers insight into the behaviors of significant investors, suggesting that market dynamics are at play. As the year progresses, observing how these trends evolve will be crucial for understanding the future of Dogecoin and its community.

Impact on the Crypto Market

• The decline in millionaire wallets may signal changing investor sentiment regarding Dogecoin.
• A potential drop below the $0.10 price level could exacerbate the reduction in high-value holders.
• The behavior of large holders, including profit-taking and cautious holding, reflects broader market conditions.
• Observing these shifts can provide insights into the stability and future performance of Dogecoin.
• The rapid changes in wallet balances could influence overall market confidence in meme coins.