Dogecoin is making headlines again, but this time it’s not about price movement or social media buzz. Instead, it’s the number of people holding DOGE that’s catching attention. According to on-chain data from analytics firm Santiment, Dogecoin holders have nearly reached 8 million—putting the cryptocurrency ahead of several other major digital assets like XRP and USDC.

Dogecoin Shows Strong Adoption Growth

Dogecoin’s user base has been growing rapidly. The number of unique wallets holding a non-zero balance has climbed to 7.97 million. This makes Dogecoin the third-largest cryptocurrency by number of holders, trailing only behind Ethereum and Bitcoin. The increase was especially sharp in the past month, where the number of holders spiked significantly in a short period.

This surge in wallet addresses could mean more investors are entering the Dogecoin ecosystem. It might also reflect existing users spreading their DOGE into multiple wallets for security or privacy reasons. Either way, the rise in the number of holders shows rising interest and broader adoption.

How Dogecoin Compares to Other Major Cryptos

When compared to other top cryptocurrencies, Dogecoin’s performance in user growth is notable. Here’s a snapshot of total holders based on Santiment data:

• Ethereum (ETH): 148.38 million holders

• Bitcoin (BTC): Approximately 54 million holders

• Dogecoin (DOGE): 7.97 million holders

• USD Coin (USDC): 7.79 million holders

• XRP (XRP): 6.53 million holders

• Cardano (ADA), Chainlink (LINK), and Tether (USDT) follow behind

While Ethereum and Bitcoin remain in a league of their own, Dogecoin now ranks higher than XRP and several stablecoins in terms of wallet count. This highlights the community strength and increasing real-world interest in DOGE, even though it began as a light-hearted project.

What’s Driving Dogecoin Adoption?

There are a few key reasons behind the rise in Dogecoin adoption:

1. Community and Social Media Influence: Dogecoin has one of the most loyal and active communities in crypto. Frequent mentions by influencers and celebrities continue to attract new users.

2. Low Entry Barrier: At under $0.20 per token, DOGE remains accessible for casual investors, especially those new to crypto.

3. Integration in Payment Systems: Dogecoin is being used for micro-transactions and tipping, and some businesses accept DOGE as payment.

4. Speculative Appeal: DOGE still attracts traders hoping for quick gains, which may lead to more wallets being created.

5. Long-Term Holders: More users may be choosing to hold rather than sell, reflecting confidence in the token’s potential or belief in its community value.

XRP and Bitcoin—Still Strong, but Growing at a Slower Pace

While XRP holders number 6.53 million, it hasn’t seen the same spike as Dogecoin recently. Ripple’s ongoing legal battle with the U.S. SEC may be one reason adoption is growing at a more measured pace.

On the other hand, Bitcoin holders are still significantly higher overall. Bitcoin remains the most recognized cryptocurrency globally, and its user base grows steadily over time. However, in terms of growth rate in recent weeks, Dogecoin has shown more momentum.

Ethereum Remains Unmatched

It’s important to note that Ethereum is far ahead of the pack, with over 148 million unique addresses holding ETH. This is nearly three times more than Bitcoin, and it reflects Ethereum’s key role in the crypto ecosystem, including its use in DeFi, NFTs, and smart contracts.

Still, Dogecoin’s strong showing as the third most-held crypto demonstrates its surprising resilience and relevance in today’s market.

Dogecoin Price Update

At the time of writing, Dogecoin is trading around $0.185, which marks a slight decline of about 3% over the past week. While price action hasn’t been dramatic recently, the strong wallet growth could be a positive signal for future support and momentum.

Final Thoughts

Dogecoin continues to surprise the market. Its growing number of holders shows that it’s more than just a passing trend. With nearly 8 million Dogecoin holders, it has surpassed XRP and USDC in user adoption, highlighting its strong community and increasing use.

While it may not compete with Bitcoin and Ethereum in market cap or utility, Dogecoin’s unique appeal and expanding user base keep it firmly in the conversation. As the broader crypto market continues to evolve, keeping an eye on adoption trends like this provides valuable insight into what’s really happening behind the scenes.