The largest memecoin and the 8th largest altcoin, Dogecoin (market-trembles-bitcoin-drops-below-25k-impacting-altcoins/”>DOGE), continues to grow in adoption two years after the coronavirus pandemic, with people overcoming the shutdowns by investing billions in non-serious, joke-intended altcoins. On-chain data reveal the continued expansion of the Dogecoin network.

Dogecoin’s On-Chain Metrics Continue to Sound Alarms

Dogecoin의 온체인 지표는 계속해서 경보를 울립니다.

According to the data tracked by on-chain analysis company IntoTheBlock, the number of wallet addresses holding DOGE has surpassed the 5 million mark for the first time. The number of active wallet addresses on the network has more than doubled, reaching 168,000, the highest level seen since March 2022.

The number of confirmed transactions on the Dogecoin network has also reached the highest level of the year for the first time since June, with an incredible increase of a thousand percent in the last 10 days.

Dogecoin 네트워크에서 확인된 거래 수도 지난 10일 동안 1,000%라는 놀라운 증가세를 보이며 6월 이후 처음으로 올해 최고 수준에 도달했습니다.

While the figures related to the network are becoming increasingly significant, the concentration of DOGE ownership remains a major concern. According to BitInfoCharts data, fewer than 5,000 wallet addresses control more than 80% of the circulating DOGE supply. This implies that a relatively small number of investors have control over the price of DOGE, raising concerns that a move to sell by this influential group could cause a sharp decline in the altcoin’s price.

Current Price Situation of DOGE

DOGE의 현재 가격 상황

DOGE’s market value has risen nearly 11 billion dollars this month, a 14% increase, and is currently at 10.95 billion dollars. The increasing adoption and usage of the altcoin are generally interpreted as opening the door to higher market values.

DOGE의 시가총액은 이번 달 약 110억 달러로 14% 증가해 현재 109억5000만 달러에 이른다. 알트코인의 채택과 사용이 증가하는 것은 일반적으로 더 높은 시장 가치를 향한 문을 여는 것으로 해석됩니다.

With the latest data, DOGE has seen a 4.78% drop in the last 24 hours, trading at 0.07712 dollars. The data shows that the altcoin has had a very limited increase of 0.12% in the last 7 days, but has risen by 11.92% in the last 30 days.

• Dogecoin’s adoption continues to surge post-pandemic.

Dogecoin의 채택은 팬데믹 이후에도 계속해서 급증하고 있습니다.

• On-chain metrics indicate growing network activity.
• Ownership concentration poses risks to DOGE’s price stability.

계속 읽기: https://en.coin-turk.com/the-surge-of-dogecoin-a-deep-dive-into-its-growing-adoption-and-on-chain-metrics/