Dogecoin Nears 8 Million Holders: What to Expect for Price?

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Dogecoin (DOGE), the cryptocurrency celebrated for its dog-themed branding, is approaching a significant milestone in adoption: reaching 8 million holders. This steady growth in Dogecoin's user base suggests sustained investor interest and increasing adoption within the broader cryptocurrency landscape.

According to insights from on-chain analytics firm Santiment, Dogecoin currently boasts 7.97 million holders. This figure underscores its position as one of the most widely embraced cryptocurrencies available.

? As crypto markets attempt to rally at the end of the work week, crypto networks continue to grow over time. Here are the total amount of holders for select top caps:

? Ethereum $ETH: 148.38M Holders

? Bitcoin $BTC: 55.39M Holders

? Dogecoin $DOGE: 7.97M Holders

? Tether…

— Santiment (@santimentfeed) June 6, 2025

Beyond Ethereum and Bitcoin, which boast 148.38 million and 55.39 million holders respectively, Dogecoin leads among other major cryptocurrencies in terms of its holder count.

The number of holders serves as a crucial indicator of network health and long-term viability. The total number of addresses holding a balance reflects sustained interest in holding and investing in a specific crypto asset.

In the shorter term, tracking the number of addresses with a balance can provide valuable insights into trader positioning and potentially act as a leading indicator of price movements.

Dogecoin Price: What to Expect

Following an initial sell-off, the broader cryptocurrency market is showing signs of a potential relief rally. Dogecoin has participated in this rebound, experiencing a 4.02% increase in the last 24 hours, bringing its price to $0.187. After a three-day decline that reached lows of $0.168, DOGE rebounded on Friday, with the recovery continuing into Saturday.

Analysts are now identifying $0.20, which aligns with the daily Simple Moving Average (SMA) 50, as an intermediate resistance level for DOGE. Should Dogecoin successfully breach this level with substantial trading volume, the increasing number of holders could further amplify upward momentum.

Currently, Dogecoin's price continues to fluctuate within a wide range between $0.14 and $0.26. The next significant trending move could be triggered by a break below $0.14 or above $0.26. A drop below the $0.14 level could potentially send Dogecoin plummeting towards $0.10. Conversely, a breakout above $0.26 might propel Dogecoin towards $0.38.
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