Similar currencies
Est. Addresses by holdings
Why is tracking addresses important in crypto investing?
Tracking the number of addresses in cryptocurrency investing is vital as it offers a snapshot of the currency's market health and stability. A growing number of addresses suggests widespread adoption and decentralization, which reduces the risk of market manipulation and indicates a healthy level of investor confidence. This metric also helps assess market liquidity, indicating how easily the currency can be traded, and provides insights into potential risks, such as concentration in few hands.
Only 0.27% of Dogecoin is owned by so called whales which is a healthy sign.The number of addresses holding Dogecoin is up in the last 30 days, another healthy sign.
