Dogecoin (DOGE) Non-Empty Wallets Skyrocket by 13.8% in Months

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According to on-chain analytics firm Santiment, the number of non-empty Dogecoin wallets has surged by 13.8% over the past three months. This growth defies a recent trend of consolidation following an earlier surge this year.

The increase in non-empty wallets signifies sustained Dogecoin user activity, underscoring the enduring popularity of this iconic cryptocurrency. The rise in active wallets also indicates continued interest in the dog-themed cryptocurrency, despite a period of market consolidation. This suggests that the Dogecoin community remains active and growing, even in the absence of significant price movements. Top Cap Asset Non-Empty Wallet, Courtesy: Santiment

Dogecoin's price experienced a surge at the start of the year, driven in part by a surge in retail investor interest. It reached a peak of $0.229 on March 28th.

Subsequently, Dogecoin entered a period of consolidation, with its price flattening and trading within a range. Despite this apparent stabilization, the Dogecoin community has remained vibrant and engaged, as evidenced by the increase in non-empty wallets.

The growth in non-empty wallets also coincides with ongoing developments and initiatives aimed at increasing Dogecoin's adoption. In late March, the Dogecoin Foundation launched GigaWallet v.1.0, a backend service that provides a convenient integration API for platforms such as online shops, exchanges, and social media platforms to seamlessly transact Dogecoin.

The rise in non-empty wallets could be a positive sign for Dogecoin, indicating that the community is not solely driven by speculative trading but also includes users who recognize the long-term value of DOGE.

At the time of writing, DOGE had gained 2.82% over the past 24 hours, trading at $0.149. This represents a slight rebound after yesterday's dip to lows of $0.142. Dogecoin ranks as the eighth-largest cryptocurrency, with a market capitalization of $21.49 billion.