Cardano recently witnessed a decline in the total number of wallet holders. The asset displayed a relatively stable pattern without significant growth. A detailed examination showed that in the past three months, the figure slightly reduced by 0.1%, standing at around 4.7 million holders at the current time. Despite this minor decrease, the overall holder count remained stable over April.
On the other hand, the number of non-empty Dogecoin wallets showed a contrasting trend. Over the last quarter, Dogecoin’s holder count has seen an increase of more than 13%. Starting the month at approximately 6.58 million, it rose slightly to 6.62 million, indicating a modest upward trajectory.
When it comes to market sentiment, Dogecoin has maintained a positive outlook. The Funding Rate for Dogecoin remains in positive territory, currently at 0.011%. This suggests that the market sentiment leans towards buying, with buyers generally dominating the trade landscape.
Contrarily, Cardano’s Funding Rate dipped into negative figures, landing at -0.0010% recently. This shift below zero highlights a predominance of sellers in the market, which might forecast a potential downtrend in Cardano’s price. Despite a previously positive sentiment, trading activities for Cardano have been relatively subdued.
Dogecoin has shown some resilience compared to Cardano. Over the past three months, Dogecoin’s price escalated from the $0.08 mark to around $0.1, even peaking at $0.2 in late March. Although it retracted to $0.1, it currently trades at about $0.14. This price movement indicates a marginal increase, yet it continues to demonstrate a bearish trend.
Dogecoin has experienced a notable dip, with its value decreasing by 6.15% over the past day. This downshift has adjusted the market capitalization to $20.28 billion, signifying a retreat for the meme-inspired cryptocurrency. Cardano’s valuation also slid downward by 5.35%, marking a present price of $0.4496. The market cap has followed suit, shrinking by 5.34% to land at $16.03 billion.
In contrast, both Dogecoin and Cardano have observed declines in their overall value over the past months. However, the fluctuation in Dogecoin’s price has been more favorable than that of Cardano.
This comparison highlights differing dynamics and developments between these two popular cryptocurrencies, reflecting their unique positions in the digital currency market. While Dogecoin enjoys buoyant market sentiment, Cardano faces challenges with a negative funding rate and a slight decrease in active wallets.
