Litecoin and Dogecoin Emerge as Leaders in User Adoption Among Major Altcoins

The altcoin market cap has been quite on a rollercoaster so far. Following a recent spike to $1.082 trillion on the 21st of July, the global altcoin market cap has now dipped to as low as $1 trillion on the 25th of July.

output: A recent analysis by Santiment, a cryptocurrency market intelligence platform, has unveiled the 10-year chart of notable altcoins and the number of non-empty wallets (hodlers) on their respective networks. The data reveals the varying levels of altcoin adoption and provides insights into the shifting landscape of the crypto market.

According to the chart, Litecoin (LTC) and Dogecoin (DOGE) lead the pack in user adoption among major altcoins, boasting a robust and expanding community of hodlers.

Litecoin, which is often referred to as “Bitcoin's silver,” tops the list with approximately 8.08 million non-empty wallets, indicating its widespread acceptance among investors.

On the other hand, Dogecoin, despite its origins as a meme coin, continues to attract a significant following, with around 6.69 million non-empty wallets.

The 10-year chart analysis by Santiment also highlights the varying rates of non-empty wallet growth across several altcoins.

For instance, XRP and Cardano (ADA) have seen substantial increases in non-empty wallets over time, with 5.24 million and 4.48 million wallets, respectively.

This growth reflects their strong presence in the crypto market and sustained user adoption.

Additionally, Shiba Inu (SHIB), another meme coin that gained immense popularity in 2021, has around 1.39 million non-empty wallets.

Furthermore, the analysis reveals that Chainlink (LINK), which currently trades at about $13.02, with a 5.7% decrease in the past day, has attracted a significant number of non-empty wallets despite its relatively higher price point.

With 722,000 non-empty wallets, Chainlink's price movements have drawn attention, with some analysts, like Commander Sui on X, highlighting a potential bullish pattern on the LINK chart.

The analyst noted that the LINK chart aligning with that of Ethereum makes him even more bullish on Chainlink.

Meanwhile, Dogecoin, which was trading at $0.1249 with a 6.4% decrease at press time, also garnered attention from crypto enthusiasts.

Crypto analyst Ali shared his strategy, stating that he hasn’t sold any DOGE but he has been accumulating.

The analyst added, “Dogecoin is playing the same pattern we've seen before. It consolidates in a descending triangle, sees a 140% to 230% rally, and retraces by 56% to 60% before entering a bull run. So now we just wait!!!”

Both Chainlink and Dogecoin had neutral Relative Strength Index (RSI) readings, according to CryptoQuant data.

Chainlink's RSI stood at 55, indicating a balance in buying and selling pressures.

On the other hand, Dogecoin's RSI was slightly higher at 65. Notably, AMBCrypto previously reported that a majority of Dogecoin hodlers were still “in the money” from their DOGE investments.

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