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Dogecoin Reaches Impressive Milestone as User Activity Rises

Fast Take
  • The Dogecoin (DOGE) network reached an impressive milestone recently
  • There are currently over 5 million Dogecoin addresses with balance
  • This important milestone coincides with a very significant increase in user activity
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The net Dogecoin (DOGE) reached an impressive milestone recently: There are currently more than 5 million Dogecoin addresses with balance, as highlighted by data shared by cryptocurrency analytics platform IntoTheBlock on November 27.

The analysis highlighted that this important milestone coincides with a very significant increase in Dogecoin user activity. The platform noted that there were 168.000 active addresses on November 26, which marked the highest engagement on the network since March 2022.

 

At the time of publication, the price of Dogecoin was quoted at US$0,077940, down 1.1% in the last 24 hours. During this period, the cryptocurrency recorded a trading volume of US$645.066.728. The meme cryptocurrency has seen significant growth this month, increasing its price by 13.1% in the last 30 days.

It is worth noting that analysts at Santiment brought an intriguing perspective on the recent activity on Cardano (ADA). As noted, the decrease in the number of ADA wallets carries special significance, often preceding notable increases in the value of the cryptocurrency.

In contrast to Cardano's outlook, the Dogecoin (DOGE) market experienced significant growth. The number of funded Dogecoin wallets has surpassed the 5 million mark, a notable milestone for the cryptocurrency often associated with a more playful approach within the crypto ecosystem.

Read also   Dogecoin Could Rise Towards US$0,16 as Whales Move 276 Million DOGE

Bullish DOGE?

Could meme cryptocurrency Dogecoin (DOGE) reach a huge rally soon? The crypto expert Ali Martinez believes that the DOGE token could be close to a considerable price rally soon.

In an analysis shared on November 23, the analyst highlighted the considerable increase in transactions with the Dogecoin cryptocurrency exceeding US$100.000 in October.

Martinez noted that the surge recorded suggests greater interest in the asset, which could precede and propel DOGE towards a significant price increase.

Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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