Last year, the growth in popularity of the meme-based cryptocurrency Dogecoin (DOGE) turned a number of ordinary people into billionaires.
Despite the surge in DeFi assets, the number of millionaires has decreased significantly since the beginning of 2022. Finbold was able to discover that there were 1,341 DOGE millionaires on January 1, compared to 646 Dogecoin millionaires on May 27 using a web archive tool.
According to information from cryptocurrency data tracking portal BitInfoCharts, the reduction in just over six months represented a 43.03 percent drop.
It’s worth noting that the meme-based cryptocurrency’s initial resurrection resulted in the number of millionaire investors in the asset tripling in two weeks between April 23 and May 4, 2021, with the latter having 2,866 Dogecoin wallets, each worth at least $1 million.
Since DOGE was trading around its peak, the percentage of millionaires has declined by 77.45 percent.
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