Dogecoin has seen a jump of over 12% during the past day, but this trend brewing in an on-chain indicator could spell a bearish end to the run. Dogecoin Investors Have Been Showing Signs Of FOMO Recently In a new post on X, the on-chain analytics firm Santiment has discussed about how the trend in the Total Amount of Holders has been like for the various top coins in the cryptocurrency sector. Related Reading: Dogecoin Analyst Reveals Buying Opportunities At Lower Prices – Details The “Total Amount of Holders” here refers to an indicator that, as its name suggests, keeps track of the total number of addresses on a given network that are carrying a non-zero balance. When the value of this metric rises, it means new investors are joining the blockchain or old ones who had sold earlier are buying back into the coin. The indicator also registers an increase whenever existing users divide their holdings into multiple wallets for purposes like privacy. In general, all three of these factors are simultaneously at play whenever this trend ..
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