Despite its volatility, 2023 has proven to be an overall positive year for Dogecoin. The meme coin pioneer saw nearly 22% added to its overall value over the course of the year, which led to an increase in large holdings of the asset. Yet, when it comes to Dogecoin growth, just how many DOGE millionaires were added in 2023?
The number of millionaires of a specific asset showcases which wallets possess at least a million of that asset. These large holdings for specific individuals can speak to the overall health of the market and the asset specifically. In the case of DOGE, the figure represents its growth trajectory amid the overall market.
Also Read: Dogecoin Founder Had Another Crypto Project Before 2014; What Happened to It?
Dogecoin Millionaires Grow in 2023
There is little argument to be made against the prevalence of Dogecoin in the meme coin market. Moreover, the asset has become one of the most well-known digital assets within the industry in general. Subsequently, 2023 has seen rather interesting growth that has led to an overall increase in Dogecoin (DOGE) millionaires in 2023.
According to data from Finbold, Doge has seen a significant increase in $1 million DOGE holders in 2023. Specifically, the year saw a total of 718 wallets, which is up from 716 that were present after 2022. However, there is a rather large growth represented in even greater holdings.
Also Read: Dogecoin Price Prediction for Christmas Day
When observing the wallets that hold more than $10 million DOGE, the current figure is 107 addresses. However, this is a rather stark increase from the 79 wallets that were reported after last year. Moreover, that information becomes significant considering the number of DOGE it represents.
Additionally, data shows that DOGE holders with a total wallet worth of more than $1 million have increased over the past month. Specifically, the data shows an increase of nearly 100 new millionaires. Subsequently, it is likely connected to the overall growth of the industry as a whole.
Conversely, the mere growth of $1 million DOGE wallets presents a rather interesting picture considering the growth in other aspects. However, it is likely attributed to the fact that one individual could hold different wallets. Conversely, Dogecoin’s inflationary nature could also factor in, considering the new coins sent into circulation and creating a dilution of overall DOGE wealth.