Dogecoin traders anticipate price upswing soon, while Cardano traders have a contrasting perspective.
Recent data suggests that Dogecoin [DOGE] and Cardano [ADA] have registered minor changes in the count of non-zero addresses.
Dogecoin, Cardano exhibit contrasting sideway trends
An analysis of the total number of Dogecoin holders revealed a relatively steady trend of late. An examination of this metric over the past three months, indicated a growth of over 13%.
At press time, the total number of holders stood at 6.62 million. This marked an uptick from 6.58 million at the beginning of April, indicating a marginal monthly rise.
On the other hand, Cardano’s total holder count has been declining, with no clear signs of a bullish resurgence like Dogecoin.
Cardano’s total non-zero addresses have dipped 0.1% over the last three months.
At the time of writing, the number of Cardano holders was approximately 4.7 million.
An analysis of DOGE on the daily timeframe indicated that over the last three months, its price has been consolidating gains from the $0.08 price range to the $0.1 mark.
Despite this, DOGE has been exhibiting a bearish bias, with the Relative Strength Index (RSI) resting below 40.
An analysis of Cardano’s Funding Rates on Coinglass showed a recent dip below 0. At press time, the funding rate was -0.0010%.
This suggested that sellers currently have the upper hand in ADA’s market, hinting at a potential price decline.
