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- 1,100% increase in new Dogecoin addresses in one week, according to analyst Ali Martinez, indicating growing interest.
- Potential impact of Dogecoin’s growth on its price: community speculates on reaching the value of $0.1 per coin.
The memecoin Dogecoin (DOGE) is in the spotlight of the cryptocurrency market, due to a surprising increase in the number of new addresses, according to an analysis by renowned cryptocurrency expert Ali Martinez.
The #Dogecoin network is witnessing a remarkable surge in growth, with new addresses increasing by a staggering 1,100% over the past week!
On January 29 alone, a record-breaking 247,240 new #DOGE addresses were created, marking an all-time high. A sustained uptrend in network… pic.twitter.com/7tNAPzJaP2
— Ali (@ali_charts) January 30, 2024
This growth in addresses has raised expectations of a possible rally in DOGE’s price, with the community speculating whether this phenomenon could lead DOGE to reach the coveted price of $0.1 per coin.
Accelerated Dogecoin Expansion
Recently, Ali Martinez shared a chart on the X platform showing a 1,100% increase in new Dogecoin addresses in just one week. This data, an all-time high, has generated a lot of interest in the cryptocurrency community.
On January 29, 247,240 new DOGE addresses were created, marking new highs for this memecoin. This increase in new addresses has sparked a wave of speculation about the impact it could have on Dogecoin’s price.
Implications for the DOGE Price
The growth in the number of Dogecoin addresses could indicate an increase in adoption and interest in this cryptocurrency. If this uptrend in network expansion continues, it could translate into a positive move in the Dogecoin price, Martinez suggests. Currently, the market is closely watching these developments, and a 3% increase in the price of the cryptocurrency has been recorded.
Anticipation of a $0.1 Milestone
Market analysts and enthusiasts are closely watching Dogecoin’s trajectory, with many expecting to reach the $0.1 price. Analyst Ali Martinez’s positive outlook has intensified these expectations, increasing interest among investors. In addition, Dogecoin’s recent institutional attention and growing popularity are also contributing to the discussion about its future price.
Influence of Public Figures and Commercial Adoption
Personalities such as Elon Musk and Mark Cuban have played an important role in Dogecoin’s popularity. Musk, through his Company X, and Cuban, through his acceptance of Dogecoin as a payment method for the Dallas Mavericks, have contributed to Dogecoin’s adoption in the commercial and sports arenas. These actions have reaffirmed Dogecoin’s viability as a legitimate means of payment.
Current DOGE Price Status
At the time of writing, Dogecoin’s price had experienced a 3.13% increase in the last 24 hours, trading at $0.080. Its trading volume had also increased significantly, reaching $566.98 million.
These changes reflect the volatility and dynamism of the cryptocurrency market, and the crypto community remains vigilant to see if this recent momentum will lead Dogecoin to reach the expected $0.1 price.