Dogecoin ($DOGE), the top meme coin, keeps on surprising the crypto market with rapid growth. Over the last week, a substantial spike has reportedly taken place in activity on the Dogecoin network, marked by a 72% surge in the creation of the exclusive $DOGE addresses. This sheer spike has grasped the attention of analysts and investors alike, indicating renewed confidence in the meme coin. The token is presently changing hands at $0.1041. This means that its price is not catching up with the growth of new addresses.
Dogecoin Network Experiences a Noteworthy Progress with the Creation of 19,630 Latest Addresses
In line with the recent statistics, just yesterday, 19,630 latest Dogecoin addresses emerged. This suggests that the investors are becoming a part of the Dogecoin ecosystem in great numbers. This development reportedly results because of several factors. They include the online community of the crypto token and a spike in the digital assets’ mainstream acceptance.
As the Dogecoin ($DOGE) currently trades at $0.1042, its 24-hour price performance shows an 11.23% decline. However, in the case of the token’s performance over the last week, it has experienced a 3.39% plunge. This shows a great decrease in its 7-day price performance in comparison with the daily price movement. On the other hand, $DOGE saw an 8.54% rise in its 1-month price progress.
The Positive Development May Be a Result of the Recent Large-scale Resurgence in the Crypto Market
Dogecoin’s jump in latest addresses could additionally be a result of the wider crypto market’s exclusive resurgence. While investors pursue alternatives to conventional financial assets, several are moving toward crypto assets like Dogecoin. They reportedly intend to get high gains and enjoy decentralization.
Source: https://blockchainreporter.net/dogecoin-network-witnesses-significant-growth-with-72-spike-in-new-addresses/