Although the cryptocurrency market has turned red, with Dogecoin (DOGE) being no exception, the famous dog-themed cryptocurrency has reached a significant milestone in the number of crypto wallets holding it, in addition to a remarkable surge in its user activity.
Specifically, Dogecoin recently saw a massive increase in the total number of its addresses with a balance, culminating with 5.02 million, according to the most recent chart information shared by the crypto market intelligence and analytics platform IntoTheBlock in an X post on November 27.
On top of that, the platform’s team noted that this milestone coincided with an exceptional surge in Dogecoin’s daily user activity, recording around 168,500 active addresses on November 26, which represents the highest engagement in 20 months, or since March 2022, according to the chart.
Meanwhile, the sudden increase in activity could be the result of the announcement by the decentralized finance (DeFi) platform Coin98 on the integration of Dogecoin into its latest versions of Coin98 Super Wallet and Coin98 Extension, delivering palpable advantages for the holders of this asset.
DOGE price analysis
As things stand, Dogecoin was at press time changing hands at the price of $0.078, recording a decline of 1.58% on the day but still holding onto the 0.85% advance on the day and a larger gain of 13.55% across the past month, as per the latest data retrieved on November 28.
To conclude, DOGE’s recent milestone demonstrates the massive interest among crypto traders and investors, potentially reflected in its price in the near future, particularly as 57% of its holders are in profit right now, as Finbold reported on November 25.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
Source: https://finbold.com/doge-hits-milestone-of-5-million-addresses-with-balance/