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Exploring Dogecoin’s Surge in Active Addresses and Holder Growth

3 Key Points:

  • New Dogecoin addresses saw a surge above 30% in the past week.
  • The count of actively used Dogecoin addresses is approaching 1.3 million.
  • Despite the network activity, Dogecoin’s market price is experiencing a slow trend.

Dogecoin Network Witnesses Spike in New Addresses

Recent data analytics from AMBCrypto spotlight a significant climb in the creation of new Dogecoin addresses, jumping by over 35% within just a week. This uptrend could imply a surge in liquidity and trades, positing future valuation increases for the well-known crypto.

Active Dogecoin Users on the Rise

According to Santiment, a notable spike in the daily active Dogecoin addresses also marks a positive stride, currently sitting around 1.3 million. Compared to the pre-December average of 450,000, this shows a marked growth in network engagement.

Daily Activity Remains High

Even with minor dips from the zenith, Dogecoin’s daily activity levels are holding strong. The daily active addresses recently hit around 166,000, outranking the prior months’ average of 45,000—pointing to continued momentum in user interactions.

Expansion in Dogecoin Holders

Santiment’s data displays a consistent swell in the Dogecoin holders pool, with over 400,000 new holders joining since November. The upward trajectory suggests a possible breach of the 6 million holder mark soon, an optimistic signal for network strength.

Price Trends Diverge From On-chain Activity

Despite the promising on-chain activity, Dogecoin’s market price trends have yet to mirror these positive changes. Observing the past week reveals price fluctuations, with DOGE experiencing a marginal decrease under 1%, hinting at a potential deceleration in the bullish momentum.

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