According to on-chain data, the Dogecoin user base has grown to nearly 8 million holders. This data, shared by Santiment on X, highlights the growth of various cryptocurrencies in terms of the total number of holders. The increase in holders suggests growing adoption across the top coins.
The Total Amount of Holders metric measures the total number of addresses with a non-zero balance on a given network. This metric can increase due to new investors entering the network, returning investors, or existing users creating new wallets. Adoption is generally constructive for cryptocurrencies, providing a solid foundation for future growth.
Dogecoin's user base has seen particularly sharp growth, with a steep climb in the number of holders last month. The Dogecoin network now has 7.97 million holders, ranking third on the list, ahead of USD Coin's 7.79 million and XRP's 6.53 million. Bitcoin and Ethereum have significantly larger holder bases, with Ethereum boasting 148.38 million non-empty addresses. Dogecoin is currently trading around $0.185, down almost 3% in the past week. (Source: Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure)