Dogecoin has seen a swift shift in on-chain wealth distribution just one month into 2026, as a meaningful share of its richest wallets slipped out of millionaire status. What the on-chain data shows - According to BitInfoCharts’ Dogecoin Rich List — data highlighted by Finbold using snapshots from the Wayback Machine — there were 1,052 Dogecoin wallets holding at least $1 million worth of DOGE at the start of 2026. The same archive shows 163 of those wallets were worth more than $10,000. - By early February that count had dropped to roughly 950 wallets, meaning nearly one in ten millionaire DOGE wallets lost their six‑figure valuation in about a month. That pace of decline is notable compared with the typically slower changes seen on Dogecoin’s rich list. Price weakness behind the exodus - The fall in millionaire wallets tracks closely with DOGE’s price action. Dogecoin has traded lower year-to-date, shedding double-digit percentages and losing roughly 32% of its value since Jan. 4. - The downtrend stretches back to Q4 2025 after a rejection at $0.29. At the time of writing DOGE is trading near $0.1084 and is threatening the $0.10 level — a breach that would likely push even more wallets below the $1 million mark. Valuation effects vs. selling - The drop in millionaire wallet counts doesn’t necessarily mean large-scale selloffs. Much of the change is valuation-driven: as prices fell, wallets that had been hovering just above $1 million slipped below the threshold without needing to offload coins. - Still, the decline does signal shifting behaviour among large holders. Some may have taken profits earlier, while others appear to be riding out weaker market conditions. Why it matters - Rapid changes in the concentration of high‑value holders can be an early indicator of sentiment among whales and major investors. Monitoring the rich list alongside price action provides a clearer view of whether movement in millionaire counts is driven by realized selling or mere markdowns in valuation — both of which have different implications for future price stability. Read more AI-generated news on: undefined/news

#BTC #DOGE