BTC, ADA and DOGE are on an uptrend – Is that all they have in common?

• BTC, ADA, and DOGE have continued to maintain bullish trends.
• Holders of these assets rise despite sell-offs.

Bitcoin [BTC], Cardano [ADA], and Dogecoin [DOGE] have shown different patterns in the number of wallets containing non-zero assets. Nevertheless, irrespective of these different figures, the overall number of holders continues to increase.

Bitcoin, Cardano, and Dogecoin present different wallet patterns

The examination of the Bitcoin distribution chart on Santiment indicated a recent deceleration in the growth of wallets holding between 0 and 1 BTC.

From the start of November until now, the number of wallets has remained below 3.5 million. It only slightly increased from 3.47 million at the beginning of the month to around 3.5 million at press time.

A similar trend was observed in wallets containing 1 to 10 BTC, with slow growth over the past few weeks.

Furthermore, an assessment of Cardano wallets in the 1–10 range also revealed sluggish growth, hovering around 1.27 million for several weeks.

However, there was a contrasting scenario in the 1,000–10,000 and 10,000–100,000 ADA wallet categories, with slight growth noted.

As of this writing, these wallets numbered around 716,000 and 163,000, respectively. The slight expansion in these wallet categories suggests that holders may be capitalizing on profits.

Conversely, Dogecoin owners presented a different picture. Analysis of the chart showed a notable increase in the number of wallets holding 1–10 DOGE.

As of this writing, this figure was around 1.27 million, a significant rise from less than 1.2 million at the beginning of the month. This implied that, unlike ADA and BTC, a larger proportion of users are accumulating Dogecoin rather than taking profits.

Holders of Bitcoin, Cardano, and Dogecoin continue to rise

Despite the evident profit-taking observed in Bitcoin and Cardano, the number of holders has consistently increased. This trend is also reflected in Dogecoin, as per Santiment’s chart analysis. 

Between the start of November and the present, the number of Bitcoin holders has increased by over 1 million. As of this writing, it was around 51 million.

Similarly, Dogecoin has experienced a notable increase in holders, with the current count standing at around 5.4 million.

Source: Santiment

In contrast, Cardano has not witnessed the same level of growth. The expansion in the number of Cardano holders has been gradual, with a decline noted earlier in the month.

As of this writing, the number of Cardano holders was around 4.5 million, showing a slight upward trend.

The significance of this growth in holders suggested that more addresses were accumulating these assets, potentially influencing the long-term price trajectory.

BTC, ADA, and DOGE maintain bull trends

Examining the daily timeframe chart of Bitcoin revealed a recent downtrend in its price over the past few days. Despite these declines, which have been less than 1%, BTC has managed to sustain the $37,000 price range.

At the time of this writing, BTC was trading at around $37,300, experiencing a slight decrease in value. Notably, the Relative Strength Index (RSI) line has consistently remained above the neutral line, indicating an ongoing bull trend.

Source: TradingView

Similarly, Cardano has encountered a decline in the past few days, with a more significant loss of almost 4% in value. Its current trading price was around $0.37, with a loss of less than 1%.

Despite this decline, Cardano has maintained its position in a bull trend, with the RSI above the neutral line.

Source: TradingView

How much are 1,10,100 BTCs worth today

As for Dogecoin, it has sustained its bullish trend, albeit a weaker one, as indicated by its RSI line below 55 as of the current assessment.

Although Dogecoin has experienced a slight increase in value in recent days, the value dropped by over 1% at the time of writing, trading at around $0.07. Comparatively, Dogecoin’s price trend appears more positive when compared to Bitcoin and Cardano.

Source: TradingView