Dogecoin now boasts over 8.1 million holders, surpassing both XRP and Cardano.

crypthub

about 8 hours ago

Dogecoin Holder Milestone

On-chain data reveals Dogecoin holders have surpassed 8.1 million, a significant milestone in the cryptocurrency sector. This metric reflects the total number of wallets containing a non-zero balance, indicating adoption and investor activity. The increase suggests new investment and/or returning users re-entering the market.

Comparison with Other Cryptocurrencies

Dogecoin's holder count now exceeds XRP (7.1 million), Cardano (4.5 million), USDC (4 million), and Chainlink (802,500). Despite its lower market capitalization, Dogecoin's reach among retail traders has facilitated this achievement. Ethereum maintains dominance with over 160 million holders, while Bitcoin follows with 56.9 million.

Adoption and Network Growth

Historically, increased adoption is viewed as positive for cryptocurrency networks, solidifying their foundation. The rising number of holders generally signals a healthy and expanding ecosystem. This trend across Dogecoin and other assets may be considered a favorable indicator.

Recent Price Performance

Despite attracting a growing user base, Dogecoin's price has faced challenges recently. The cryptocurrency is currently down approximately 18% from its September high of $0.25. This disconnect highlights the complex interplay between user adoption and market value.