Dogecoin Outperforms XRP, ADA in Crucial Metric in Past 6 Months: Report

Cover image via U.Today

On-chain data aggregator Santiment reports a surge in whale activity over the past six months. Notably, the original meme cryptocurrency, DOGE, has outperformed XRP, ADA, and other major altcoins.

DOGE Surpasses Bitcoin and Ethereum

While DOGE has surpassed Bitcoin and Ethereum, it has not reached their levels. Bitcoin and Toncoin have both achieved new highs.

Bitcoin Wallets Reach ATH, TON Expands Faster

A recent tweet reveals that Bitcoin has reached an all-time high in non-empty wallets, with over 53.85 million created in the past six months.

Toncoin (TON) wallets have also surged, reaching 16,800. However, TON's growth rate has been significantly faster than Bitcoin's.

DOGE Outperforms ADA, XRP

Santiment's report indicates that TON leads the growth percentage with a remarkable 110% increase, resulting in 16,800 non-zero wallets.

Dogecoin follows with a 27% growth, reaching 6.6 million wallets. Bitcoin and Ethereum have recorded modest increases of 10% and 11%, with wallet counts rising to 53.9 million and 120.7 million, respectively.

📊 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…

XRP and ADA trail behind Bitcoin, with XRP's non-empty wallets increasing by 7% (5.2 million total) and ADA's growth remaining at 0%. The Cardano chain maintains 4.5 million non-zero wallets.

Analyst Predicts DOGE Bull Run

Cryptocurrency analyst Ali Martinez predicts a bull run for DOGE. In a Twitter thread, he explains that the current correction is typical for DOGE and has preceded previous bull runs.

Martinez draws parallels to 2017, when DOGE broke out of a descending triangle pattern and experienced a 40% correction before a 982% bull run. A similar scenario occurred in 2021, with a 56% retracement followed by a 12,197% surge and an all-time high. Martinez believes that DOGE is poised for a similar bull run.