Dogecoin: How many new DOGE millionaires will be created in 2023?
Despite the volatility, 2023 will be an overall positive year for Dogecoin. The meme coin pioneer has seen its overall value increase by nearly 22% in a year, which has led to a massive increase in holdings of the asset. However, speaking of Dogecoin’s growth, how many Dogecoin millionaires will be created in 2023?
The number of millionaires for a specific asset shows which wallets have at least one million of that asset. These large holdings by specific individuals can be specific to the overall health of the market and asset. In the case of DOGE, this number represents its growth trajectory across the market.
The number of Dogecoin millionaires will grow in 2023
Dogecoin’s popularity in the memecoin market is undisputed. Additionally, the asset has become one of the most well-known digital assets in the industry. 2023 then saw quite interesting growth, leading to an overall increase in the number of Dogecoin (DOGE) millionaires in 2023.
Data from Finbold shows a significant increase in the number of DOGE holders in 2023, worth $1 million. Specifically, the total number of wallets for the year was 718, an increase from 716 beyond 2022. But the sizeable increase represents a larger holding.
When looking at wallets holding over $10 million in DOGE, the current number is 107 addresses. However, this is a pretty significant increase compared to the 79 wallets reported after last year. Furthermore, this information becomes very important given the amount of DOGE it represents.
Additionally, data shows that the number of DOGE holders with a total wallet value exceeding $1 million has increased over the past month. Specifically, the data shows nearly 100 new millionaires. Subsequently, it may be correlated with the overall growth of the industry as a whole.
On the contrary, DOGE wallet growth of just $1 million presents a rather interesting picture given the growth elsewhere. However, this may be due to the fact that one person can hold different wallets. Conversely, the inflationary nature of Dogecoin may also be affected, given that new coins are put into circulation and cause a dilution of overall Dogecoin wealth.