How Litecoin, Dogecoin are winning the altcoin adoption race

Altcoin Adoption and Potential Growth

Adoption Leaders: Litecoin and Dogecoin

Litecoin and Dogecoin have established themselves as the frontrunners in user adoption among major altcoins. Litecoin, often referred to as "Bitcoin's silver," boasts approximately 8.08 million non-empty wallets, reflecting its widespread popularity. Dogecoin, despite its origin as a meme coin, follows closely with 6.69 million non-empty wallets, demonstrating a strong user base.

Rising Stars: XRP, Cardano, and Shiba Inu

XRP and Cardano are notable mentions, with 5.24 million and 4.48 million wallets, respectively. Shiba Inu, another popular meme coin, has gained significant traction, reaching 1.39 million wallets.

Potential Growth: Chainlink and Dogecoin

Chainlink's current chart pattern bears similarities to Ethereum's trajectory in 2021. Analysts speculate that it may be poised for significant growth. Dogecoin, on the other hand, has been accumulating in a descending triangle pattern, potentially signaling an upcoming rally.

Technical Analysis

Relative Strength Index (RSI) readings indicate balance in buying and selling pressures for both Chainlink and Dogecoin. Chainlink's RSI stands at 55, while Dogecoin's is slightly higher at 65, suggesting a neutral market sentiment.