The number of Dogecoin wallets in the millionaire threshold has fallen notably since the beginning of 2026, but this is not surprising considering the price action of the meme coin during this period. This trend is revealed through data from the Dogecoin Rich List metric from BitInfoCharts.
However, valuation changes, not just outright exits, played a role in the shrinking millionaire count. As prices moved down, many wallets that previously sat just above the $1 million mark would have slipped below the threshold without necessarily selling large portions of their holdings.
A decline in high-value holders does not automatically mean a collapse in Dogecoin’s outlook, but it does reflect changing behavior among large holders. Some of the reduction may point to profit-taking. Other wallets may simply be waiting out weaker market conditions.
