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