Popular meme coin, Dogecoin, has welcomed new holders into its ecosystem within the past three months. As per data from CoinMarketCap, the number of Doge holders has increased by about 2% from its July 24th number. While the coin has enjoyed increased investors, it hasn’t reflected in its price movement. It seems most investors are dormant whales banking on future bullish news, such as Twitter’s acquisition or other blockchain upgrades. Related Reading: Data: Bitcoin Whales Who Accumulated At $18k Have Continued To Hold Strong Dogecoin Investors Spike: The Numbers Dogecoin has enjoyed massive growth in the past. What started as a meme on Twitter grew to become a top 10 cryptocurrency, according to CoinMarketCap. Despite its huge popularity, it joined the rest of the market to nosedive during the recent crypto crash. Dogecoin is still over 90% below its all-time high. However, it has seen a decent increase in the number of holders in the past three months. Dogecoin’s total holder count as of October 23 was 4,456,459, up from 4,365,551 on July 24 (a 2% increase). CoinMarketCap statistics show that the tenth-ranked cryptocurrency by market cap gained over 889,900 holdings in three months. However, the price of Dogecoin has not responded to the actions of its holders. As of this writing, the asset was trading for $0.059, down 16.1% in the past three months. Why More People Are Holding Doge There are several reasons that expl...
