Dogecoin is gaining traction, with nearly 8 million people now holding it. Let’s see how that compares to other major cryptocurrencies like XRP and Bitcoin.
Dogecoin’s Huge Holder Base
According to Santiment, a crypto analytics firm, Dogecoin has a massive number of holders. They looked at the total number of addresses holding a cryptocurrency – basically, how many people actually own some of the coin. A higher number usually means more people are using and believing in the cryptocurrency. This increase can happen for several reasons: new investors, old investors returning, or even existing users creating new wallets for privacy or to spread their holdings.
The Numbers
Santiment compared eight major cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), XRP, Dogecoin (DOGE), Cardano (ADA), Chainlink (LINK), Tether (USDT), and USD Coin (USDC). While all saw an increase in holders recently, Dogecoin really stood out. It experienced a huge surge in new wallets last month, though growth has since leveled off.
Currently, Dogecoin boasts 7.97 million holders, making it the third largest on the list, surpassing USDC (7.79 million) and XRP (6.53 million). However, Bitcoin and Ethereum are still in a league of their own, with far more holders. Ethereum, in particular, has a whopping 148.38 million addresses with a non-zero balance.
Dogecoin’s Current Price
At the time of writing, Dogecoin is trading around $0.185, down slightly over the past week.
