Dogecoin

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 <p>A leading crypto analytics firm says that the number of wallets holding Dogecoin (DOGE) is increasing like never before.</p>
 <p>Santiment says on the social media platform X that the count of wallets holding DOGE is soaring at the fastest rate in the history of the dog-themed memecoin.</p>
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 <p><em>“Dogecoin’s value is -23% since its top on December 9th. But the memecoin’s wallets with more than zero DOGE coins have been growing at the fastest rate in the network’s decade-long history. 413,800 new wallets, mostly holding 0.001-1 DOGE, have been added in two weeks.”</em></p>
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      Source: Santiment/X
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 <p>DOGE is trading for $0.0788 at time of writing, up slightly in the last 24 hours.</p>
 <p>Santiment also notices growing negative sentiment about the crypto market based on social media chatter, which the firm says may signal that a bullish move is imminent.</p>
 <p>The analytics platform says bearish sentiment appears to be evident among holders of payments network XRP and smart contract platforms Solana (SOL) and Cardano (ADA).</p>
 <p><em>“With crypto market caps ranging and lacking the usual growth traders have been accustomed to since the bull cycle began in October, there is a notable bearish sentiment that has taken hold of crypto discourse this week. </em></p>
 <p><em>XRP, Cardano and Solana are all uniformly in a more negative crowd sentiment range than their historic averages. This is the first time in over six months that this has occurred. </em></p>
 <p><em>When traders become concerned and show FUD (fear, uncertainty and doubt) across multiple large assets, it is a signal that market caps have a higher likelihood of seeing an impending bounce. Markets historically move in the direction of the crowd’s least expected direction, making a rise catch many short traders off guard.”</em></p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GFmwYILbcAAzgyJ?format=jpg&amp;name=4096x4096" alt="Image" width="2666" height="1759">
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   Source: Santiment/X
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 <p>At time of writing, SOL is worth $96.10, while XRP is trading at $0.504 and ADA at $0.497.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/dogecoin-kicking-into-overdrive-as-doge-wallets-grow-at-fastest-rate-in-history-santiment-tbt79153.html">https://thebittimes.com/dogecoin-kicking-into-overdrive-as-doge-wallets-grow-at-fastest-rate-in-history-santiment-tbt79153.html</a></p>

Dogecoin Kicking Into Overdrive As DOGE Wallets Grow at Fastest Rate in History: Santiment

TheBitTimes

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