Given a prime ℓ ≥ 3 and a positive integer k ≤ ℓ − 2, one can define a matrix D k,ℓ , the so-called Demjanenko matrix, whose rank is equal to the dimension of the Hodge group of the Jacobian Jac(C k,ℓ ) of a certain quotient of the Fermat curve of exponent ℓ. For a fixed ℓ, the existence of k for which D k,ℓ is singular (equivalently, for which the rank of the Hodge group of Jac(C k,ℓ ) is not maximal) has been extensively studied in the literature. We provide an asymptotic formula for the number of such k when ℓ tends to infinity.