Dogecoin Sees Significant Growth in Holder Count, Outpacing Other Altcoins

Analytics firm Santiment has unveiled recent data showing significant growth in the number of Dogecoin holders compared to other major altcoins.

Dogecoin has recently achieved a holder count of 6.69 million, reflecting a notable increase over the past year. This rise is attributed to both new investors entering the market and existing holders diversifying their holdings across multiple addresses for privacy.

📊 Below is the 10-year chart of notable altcoins and the amount of non-empty wallets (hodlers) on their respective networks:

Litecoin: 8.08M Wallets
Dogecoin: 6.69M Wallets
XRP Ledger: 5.24M Wallets
Cardano: 4.48M Wallets
Shiba Inu: 1.39M Wallets
Chainlink: 722K Wallets pic.twitter.com/BiF97RBJmz

— Santiment (@santimentfeed) July 24, 2024

In comparison, Litecoin leads with approximately 8.08 million holders, while XRP trails with 5.24 million. Despite some fluctuations, Litecoin maintains its top position, with its holder count rebounding after a previous decline.

On the other hand, Cardano, Shiba Inu, and Chainlink have not seen similar growth, with their holder numbers remaining relatively stable, suggesting limited expansion in their user bases.

In general, rising holder numbers often signal positive long-term trends for cryptocurrencies, and Dogecoin’s recent performance indicates a bullish outlook.