Despite the price of Dogecoin (DOGE) dropping in the last three months, the number of its holders has continued to grow.
Despite the price of Dogecoin (DOGE) dropping in the last three months and another meme-inspired cryptocurrency, Pepe (PEPE), overtaking it in 24-hour trading volume during the previous day, the number of its holders has continued to grow, increasing close to 8% over the past 90 days.
As it happens, there were a total of 4,824,266 unique addresses holding Dogecoin in the network at press time, as opposed to 4,484,703 on February 2, 2023, according to the data that Finbold retrieved from the crypto market monitoring platform CoinMarketCap on May 2.
Dogecoin holders over last 3 months. Source: CoinMarketCap
In other words, DOGE has gained 339,563 new holders in three months, which is an increase of 7.57% during this period, despite some setbacks for its price, which has seen it decline 15% in the last 90 days, dropping from $0.09215 on February 2 to $0.07832 at press time.
Dogecoin price analysis
Specifically, Dogecoin’s current price also demonstrates a decrease of 0.66% on the day, 0.63% across the previous week, 4.25% in the last month, as well as 2.71% over the past 60 days. Since the year’s turn, however, the meme digital asset has increased by 11.42% compared to its price of $0.07029 on January 1, 2023, as per the most recent chart data retrieved by Finbold on May 2.
Dogecoin 3-month price chart. Source: Finbold
As it happens, DOGE is currently facing tough competition as new meme digital coins enter the crypto landscape, and the likes of Pepe (PEPE), Floki (FLOKI), Tamadoge (TAMA), Baby Doge Coin (BABYDOGE), and Dogelon Mars (ELON), threaten to overshadow both Dogecoin and Shiba Inu (SHIB) with their possibly massive growth in 2023.
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