CandleFocus Wallet Activity: Why Fewer ADA, DOGE Holders Could Be Bullish
2024-11-19
Author: Content Editor
The number of non-empty wallets for Cardano, Dogecoin, and Bitcoin has declined recently, indicating a bullish long-term outlook. Santiment reported that Bitcoin lost 15,120 wallets in the last four days, while ADA and DOGE saw profit-taking in the past 13 and one day, respectively. Conversely, Chainlink gained 991 wallets in the past month. Santiment believes the decrease in wallets is a sign of FUD and capitulation from novice traders, which often indicates a bullish trend. The decline in retail traders' wallets could be an opportunity for larger, long-term investors. ADA and LINK have seen significant price increases in the past month, while DOGE remains one of the best-performing assets, up 173.10% in the past month.
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