I struggled to figure this out on my own. I hope it helps other viewers
You can organize Dolphin browser bookmarks.
It is NOT easy to figure out on your own.
But it is EASY once I finally figured it out.
1. Open browser
2. Open Bookmarks by menu then bookmarks OR pull left side exposing bookmarks
3. Press Quick Access tab
4. Inside Quick Access tab, press Bookmarks AGAIN
I suppose I'll refer to this as bookmark EDIT MODE because you can ONLY edit them if opened via the steps I just described.
5. Long press a bookmark and options such as edit, delete, etc. will appear
6. Press menu while in EDIT MODE and it will reveal additional option such as +New Folder
Now I love Dolphin, and it was there all along.
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