Recent data shows that Dogecoin's holder count has reached 8 million, reflecting an increasing interest in this cryptocurrency under volatile market conditions.
Dogecoin Market Status
According to data from **Santiment**, the number of Dogecoin holders, defined as addresses with a non-zero balance, has nearly reached **8 million**, up from approximately 6.9 million earlier this year. This makes DOGE one of the most widely held cryptocurrencies, trailing only Ethereum (~148 million holders) and Bitcoin (~55 million). Rising holder numbers often indicate renewed adoption interest — not just speculative traders, but also long-term holders, providing a foundation for network resilience.
Long-Term Accumulation Trends of DOGE
Crypto trader **Alan** reveals that whales have been accumulating over 1 billion DOGE in recent weeks, boosting both transaction volume and active addresses. Institutional platforms like Bit Origin have even invested nearly $500 million in DOGE near the $0.24 price. Such accumulation behavior often precedes major rallies, where large holders buy in, and price tends to follow.
Criticism and Exposures of Dogecoin
Despite its meteoric rise, Dogecoin's critics point to structural weaknesses. A **Galaxy Research** report emphasizes DOGE's lack of development activity, scarce node operators, and limited infrastructure, suggesting its foundations remain fragile. Other analysts warn of 'pump-&-dump' dynamics or meme-driven short-lived spikes that lack long-term sustainability.
Dogecoin, which started as a meme, continues to attract attention from both investors and critics. Despite the increasing number of holders and signs of recent accumulation, the cryptocurrency faces challenges regarding infrastructure and long-term sustainability.
