TL;DR
- In the first month of 2026, around 10% of Dogecoin millionaire wallets dropped below $1 million.
- Dogecoin’s price fell roughly 32% since early January, pushing many high-value wallets under the threshold.
- Analysts note that the decline reflects market dynamics and portfolio adjustments rather than a loss of confidence in Dogecoin’s long-term potential.
Just a few weeks into 2026, Dogecoin has already seen a significant change in its wealth distribution. On-chain data from wallet balances shows that a sizable share of the cryptocurrency’s richest holders no longer meets the millionaire threshold. The trend coincides with a period of price weakness, highlighting shifting behavior among large holders rather than a drop in overall market interest.
Finbold Data Highlights Drop In Dogecoin Millionaires
The Dogecoin Rich List metric on BitInfoCharts shows a rapid decrease in the number of wallets holding at least $1 million in DOGE. At the start of the year, 1,052 wallets were above this level, with 163 holding over $10,000 each. By early February, that number fell to roughly 950 wallets, meaning nearly one in ten millionaire addresses exited that status in a single month.
This pace of change is faster than usual for Dogecoin’s top holders. Analysts suggest that such declines are often driven by valuation adjustments as prices shift, rather than mass selling of coins.
Price Decline Drives Wallets Below $1 Million
Dogecoin has lost about 32% of its value since January 4, dropping from around $0.16 to $0.1084 at the time of writing. The correction traces back to late 2025, when Dogecoin was rejected at $0.29. Falling prices have caused wallets previously just above $1 million to slip below the threshold without necessarily liquidating holdings.
Although the reduction in millionaire wallets may appear concerning, experts emphasize it reflects portfolio rebalancing and profit-taking strategies. Some holders may be waiting for stronger market conditions, while others adjust allocations to manage risk.
Outlook For Dogecoin Millionaire Wallets
A temporary drop in high-value wallets does not indicate long-term weakness. Large holders frequently adjust positions during price fluctuations, creating short-term changes in wealth rankings. If Dogecoin rebounds, the number of millionaire wallets could rise again. For now, these shifts show how volatile markets can quickly impact wealth metrics, while the broader interest in Dogecoin remains intact.
