On-chain data aggregator Santiment on X revealed the growth trends in altcoins for the past six months. According to the study, Dogecoin (DOGE) has outsmarted XRP, Cardano (ADA), and several other altcoins.
Dogecoin (DOGE) is Heading for the Top
Dogecoin (DOGE), which originated as a meme, was first considered a joke. Despite this, it acquired market traction and is now one of the top ten cryptocurrencies on Elon Musk’s hype.Â
This demonstrates the significant impact that market sentiment and celebrity endorsements have on the cryptocurrency market.
DOGE reached a milestone of 6.6 million wallets with a growth rate of 27%, making it the second-highest-growing cryptocurrency, as per the report. Toncoin (TON) is the top cryptocurrency on the chart with 110% growth, and it has accumulated approximately 16,800 non-zero wallets in the last six months.
📊 Sorted by greatest growth in the past 6 months, here is the net change of non-empty wallets among top market caps in #crypto (apologies to #BinanceCoin and #Solana, not pictured in this study):
🪙#Toncoin $TON 16.8K wallets (+110% growth)
🪙 #Dogecoin $DOGE 6.6M wallets… pic.twitter.com/IhjJn6syn2— Santiment (@santimentfeed) May 3, 2024
Bitcoin (BTC) and Ethereum (ETH) increased slightly with 10% and 11% growth respectively, although Bitcoin non-zero wallets increased to 53.9 million while Ethereum wallets rose to about 120.7 million. As it stands, XRP and ADA are below the list. ADA did not witness any growth as its wallet stands at 4.5 million, while XRP had a 7% growth in six months and an impressive 5.2 million wallets.
Most Dogecoin (DOGE) Holders are in Profit
Interestingly, the last few weeks have brought considerable positivity to the Dogecoin (DOGE) community. On the monthly chart, the price of DOGE has soared by 12%. Consequently, the current trading price of Dogecoin (DOGE) stands at $0.1315.
Due to the price, the overall profitability of Dogecoin has also soared. As per the latest data from Altindex.com, more than 88% of Dogecoin (DOGE) holders are currently making profits. Besides, the data reveals that more than 50% of profitable DOGE holders are Dogecoin whales, who have remained invested in the project for a long term.
As the memecoin regains popularity among investors, its revival raises numerous issues, and many experts are waiting to see if it can maintain its ascent.
