- On-chain data aggregator Santiment reports increased whale activity in the past six months, with DOGE outperforming XRP, ADA, and other major altcoins.
- Bitcoin has reached an all-time high in nonempty addresses, but TON has expanded faster.
- Cryptocurrency analyst Ali Martinez predicts a massive bull run for DOGE, drawing parallels with previous cycles.
In this article, we delve into the latest developments in the crypto world, focusing on the growth of Bitcoin and TON wallets, DOGE’s performance against other altcoins, and a predicted bull run for DOGE.
Bitcoin wallets print ATH, but TON still expands faster
According to a recent tweet, Bitcoin, the world’s largest and primary cryptocurrency, has reached an all-time high in nonempty addresses, with this metric hitting 53.85 million wallets in the past six months. Meanwhile, Toncoin (TON) wallets have surged to a 16,800 high, growing at a much faster pace than Bitcoin.
DOGE beats ADA, XRP
Santiment’s report shows that TON leads the pack in terms of percentage growth, with a massive 110% increase, bringing its total to 16,800 nonzero wallets in the past half year. Dogecoin follows with 27% growth, reaching the 6.6 million wallet milestone. Bitcoin and Ethereum have seen modest increases of 10% and 11%, but their number of wallets has spiked to 53.9 million and 120.7 million, respectively. XRP and ADA are at the bottom of the list, with XRP nonempty wallets increasing by 7% (5.2 million in total), and ADA’s growth standing at 0%, maintaining the 4.5 million nonzero wallet level.
Analyst predicts massive DOGE bull run
Cryptocurrency analyst and trader Ali Martinez predicts a bull run for DOGE. He explains that the correction Dogecoin is currently undergoing is a normal occurrence for this meme coin and has been observed before DOGE broke into a bull run in the past. He points to 2017, when DOGE broke out of a descending triangle pattern, dumped 40% before starting on a massive 982% bull run. A similar scenario played out in 2021; a retracement by 56% occurred before a 12,197% surge and the all-time high. Currently, Dogecoin has again broken out of a similar pattern and is expected to ignite a bull run.
Conclusion
The crypto world continues to evolve with Bitcoin and TON wallets expanding, DOGE outperforming other altcoins, and predictions of a massive bull run for DOGE. These developments highlight the dynamic nature of the crypto market and the potential opportunities for investors and traders.
