Dogecoin Loses 10% of its Millionaires in 2026

Overview

• Dogecoin lost nearly 10% of its millionaire wallets as prices slipped below key levels.

• Most of the decline came from mid-tier holders with balances between $1 million and $9.9 million.

• Market volatility and profit-taking were the main reasons for the drop in the number of Dogecoin millionaires.

Dogecoin's movement and market presence show a clear change in its wealthy holder base. On January 1, 2026, blockchain data showed 1,052 wallets holding DOGE worth at least $1 million. By February 2, 2026, this number had fallen to around 950 addresses. This shows that nearly 10% of the meme coin’s millionaires disappeared in just over one month. 

This decline has attracted attention, as Dogecoin is one of the most popular meme cryptocurrencies. In previous years, especially during strong rallies, many small investors became millionaires in a short time. The new figures show that this group is now shrinking, and confidence among mid-level wealthy holders looks weaker than before.

Price Movement Behind the Decline

Price action played a big role in this shift. Dogecoin was trading close to $0.11 in early February 2026. This was about 10 to 15% lower than prices seen at the end of December 2025. Even a small price fall can push wallets under the millionaire line when holdings are close to the limit.

Throughout January 2026, Dogecoin experienced strong daily fluctuations. These swings made it hard for many wallets to stay above $1 million. Some addresses did not sell their coins but still lost millionaire status due to the market drop. This shows how fragile wealth can be when it depends mainly on token price and not on long-term returns or business value.

Which Millionaires Were Most Affected

The biggest losses came from the lower-income group of millionaires. Most of the lost wallets held between $1 million and $9.99 million in Dogecoin. By February 2, 2026, around 800 wallets continued to stay in this category. 150 addresses still hold DOGE worth more than $10 million.

This suggests that the richest holders were more stable, while medium-level millionaires were hit hardest. These mid-tier investors are often more active traders and more likely to move funds when the market turns negative. 

Also Read: Is Dogecoin Still Worth Investing in or a Bubble About to Burst?

Reasons for the Drop in Millionaires

Several reasons explain why Dogecoin lost so many millionaire wallets in early 2026. One key factor is its inflationary supply model. New DOGE is created every year, which slowly reduces value if demand does not grow at the same speed.

Another reason is profit-taking after the strong 2024 and 2025 Dogecoin price rally. Many investors who became rich during that time chose to lock in gains and move money into other meme coins. 

Some sell DOGE for cash, while others are shifting into different cryptocurrencies or the traditional market. General pressure on risky assets and a changing global economic mood make investors more careful than before.

Market Meaning and Investor Mood

The loss of 10 % of Dogecoin millionaires does not mean the project is collapsing. It shows a more cooling phase after a hype-driven period. Meme coins depend heavily on social interest and online trends, and when attention drops, price often follows.

However, the shrinking number of wealthy mid-level holders may reduce strong buying support during price dips. A smaller group of large wallets still controls a large share of the supply, so sudden price moves can still occur. This keeps Dogecoin in a risky, emotionally charged trading zone.

Also Read: Is Dogecoin Worth its Hype in 2026? Risk vs Reward Explained

What to Watch Next

Future data will focus on wallet activity, exchange inflows, and daily active users. If Dogecoin price recovers and stays stable, many of the lost millionaire wallets could return above the one-million-dollar mark. If DOGE price keeps falling, the number could shrink more in the coming months.

For now, the near 10% drop in Dogecoin millionaires is a strong reminder that crypto wealth is not fixed. It can rise quickly, but asset returns can disappear just as quickly. The numbers show a market that is still driven by volatility, emotion, and quick shifts in investor behavior, and this trend may continue for an extended period of time.

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FAQs

1. What caused the fall in Dogecoin millionaires in 2026?
The drop was mainly due to price decline, profit-taking after earlier rallies, and high market volatility.

2. How many Dogecoin millionaire wallets were lost?
About 102 wallets fell below the one-million-dollar mark between January and early February 2026.

3. Were the richest Dogecoin holders affected?
Most losses happened among mid-level millionaires, while wallets holding over $10 million remained mostly stable.

4. Does this mean Dogecoin is failing?
No, it reflects a cooling phase after hype and shows a normal market correction rather than a collapse.

5. Can Dogecoin millionaires increase again?
Yes, if the price recovers and demand rises, many wallets could again cross the $1 million mark.