Dogecoin Addresses Holding Over $1M Surpassed 1,000 Following DOGE’s Price Explosion
The finalization of the Twitter-Musk deal triggered a massive price expansion for the first-ever memecoin, which has soared by nearly 100% in less than a week.
As a result, DOGE addresses richer than $1 million surpassed 1,000 for the first time since April 2022.
The cryptocurrency market has recently taken a breath of fresh air after several months of prolonged crypto winter, and Dogecoin has been at the forefront.
The token’s price started surging on the news that Elon Musk and Twitter are close to shaking hands on the $44 billion acquisition deal and continued its uptrend after the agreement was officially completed.
At the moment of writing these lines, DOGE’s valuation hovers around $0.14, meaning a 100% increase compared to the figures a week ago.
According to data from BitInfoCharts, the price explosion created numerous DOGE addresses worth over a million USD, and such addresses are currently 1,039. The last time they crossed the 1,000 mark was in April this year when DOGE was trading at approximately the same levels as now.
When the memecoin’s valuation stood at a mere $0.05 in September, addresses richer than $1 million were only 580.
It is worth noting that those addresses do not reflect the exact number of DOGE millionaires, as one can invest using multiple accounts.
People with Robinhood wallets collectively have 39,008,331,805 tokens. Calculated at today’s prices, this equals over $5 billion. The second place belongs to Binance investors with over $1 billion worth of DOGE.
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