Price: $0.41266 7.4136%
Market Cap: 60.62B 1.8321%
Volume (24h): 12.47B 0.4%
Dominance: 1.8321%
Price: $0.41266 7.4136%
Market Cap: 60.62B 1.8321%
Volume (24h): 12.47B 0.4%
Dominance: 1.8321% 1.8321%
  • Price: $0.41266 7.4136%
  • Market Cap: 60.62B 1.8321%
  • Volume (24h): 12.47B 0.4%
  • Dominance: 1.8321% 1.8321%
  • Price: $0.41266 7.4136%
Home > Information news > Expanding Horizons: Dogecoin’s Network Flourishes with New User Influx

Expanding Horizons: Dogecoin’s Network Flourishes with New User Influx

Release: 2024/02/02 06:12 Reading: 207

Original author:BH NEWS

Original source:https://coinmarketcap.com/community/articles/65bbde725ddfd73dc33d1999

Expanding Horizons: Dogecoin’s Network Flourishes with New User Influx

You can also read this news on BH NEWS: Expanding Horizons: Dogecoin’s Network Flourishes with New User Influx

The Dogecoin (DOGE) network has experienced a significant increase in activity, with a surge of 890,000 new addresses in the span of a week. This growth is indicative of a rising interest in the meme-based cryptocurrency, which has been gaining popularity since its inception.

Adoption Rate in DOGE

The adoption rate among these new addresses is noteworthy, with 86% of them engaging in their first transactions. This metric, provided by IntoTheBlock, reflects the proportion of new participants in the network and suggests a robust influx of newcomers contributing to the overall activity.

The substantial increase in new Dogecoin addresses, highlighted by analyst Ali Martinez, represents an 1,100% jump from the previous week. This explosive growth is a clear sign of Dogecoin’s expanding footprint in the cryptocurrency landscape.

January 29 marked a milestone for Dogecoin with a record 247,240 new addresses created in a single day. This peak in address creation coincides with the introduction of the DRC-20 token standard, which has catalyzed network activity.

Despite a minor price dip to $0.078 in the last 24 hours, Dogecoin’s market position remains contentious. The price hovers near the critical $0.08 mark, with resistance from sellers and persistent buying interest, hinting at potential upward momentum or a pivotal trend shift.

The post first appeared on BH NEWS: Expanding Horizons: Dogecoin’s Network Flourishes with New User Influx

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