Dogecoin Nears 8 Million Holders, Surpasses XRP and USDC as Adoption Rises; DOGE Price Trend Subdued Amid Network Growth
Dogecoin (DOGE) is approaching 8 million holders, signaling strong and sustained network growth according to on-chain data from Santiment. Recent analytics reveal DOGE’s holder count has reached around 7.97 million, overtaking both USD Coin (USDC) and XRP in network adoption. Despite this milestone, Dogecoin remains behind Bitcoin (BTC) and Ethereum (ETH), with Ethereum leading at 148.38 million non-zero addresses. Other major cryptocurrencies like Cardano (ADA), Chainlink (LINK), and Tether (USDT) have also seen holder increases, indicating wider crypto market adoption. DOGE currently trades near $0.185, down about 3% over the past week. While growing network adoption is positive for long-term prospects, the short-term DOGE price trend remains subdued. Key price levels include support at $0.14 and resistance at $0.20 (50-day SMA); a breakout from these levels could signal further volatility. Traders should monitor holder growth and resistance points for signs of future trends.
Neutral
While Dogecoin is experiencing notable network adoption and a growing number of holders—surpassing both USDC and XRP—its price remains under pressure, dropping about 3% over the past week. The increase in holders is a bullish indicator for long-term network health and potential future price appreciation. However, the current price movement is subdued, with significant resistance at $0.20 and support at $0.14. Until a clear breakout from these levels occurs, the immediate trading perspective on DOGE remains neutral, as increased adoption has not yet translated into upward price momentum. Traders are advised to watch holder trends and resistance points, but no clear bullish or bearish catalyst is present at this time.