The post Dogecoin Has 6.69 Million Holders: How SHIB, XRP Compare appeared on BitcoinEthereumNews.com.

The analytics firm Santiment has revealed how some prominent altcoins like Dogecoin and XRP compare against each other in holder count. Dogecoin Has Seen Its Total Holder Count Grow To 6.69 Million Recently In a new post on X, Santiment shared the Total Amount of Holders data for various altcoins in the cryptocurrency sector. The “Total Amount of Holders” here refers to an on-chain metric that keeps track of the number of addresses on a given network currently holding some non-zero balance. When the value of this indicator goes up, it can be due to several reasons. New investors coming in, as well as old holders who had sold before returning, both lead to the metric registering an increase. The Total Amount of Holders on the blockchain also naturally rises when existing users create multiple addresses to distribute their holdings for privacy. In general, all of these are at play to some degree at once, so some net adoption can be assumed to occur whenever the indicator observes an increase. Adoption is usually bullish for any coin’s price in the long-term. On the other hand, the declining metric suggests some investors have decided to clean out their wallets, which can be a bearish sign for the cryptocurrency. Now, here is a chart that shows the trend in the Total Amount of Holders for six popular altcoins in the sector, Dogecoin (DOGE), XRP (XRP), Cardano (ADA), Shiba Inu (SHIB), Litecoin (LTC), and Chainlink (LINK), over the past decade: Looks like LTC has the highest value on this metric out of these altcoins | Source: Santiment on X As displayed in the above graph, Litecoin is the number one altcoin out of the six listed, as its total Number of holders is around 8.08 million right now. Dogecoin is second with 6.69…

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Filed under: News - @ July 25, 2024 3:14 pm