Dogecoin

Dogecoin (DOGE) &#8211; the OG memecoin &#8211; was up by around 30% since the beginning of the month. It is trading above $0.09 and is currently rising on the backdrop of Elon Musk&#8217;s tweet about his starship launch attempt.
But the initial boost can be attributed to the abrupt change of the old blue bird logo on Twitter to a cut-out image of Dogecoin on its homepage earlier this month, a move that single-handedly prompted a minor price rally as well as spikes in network traction.
<ul>
<li>According to <a href="https://bitinfocharts.com/comparison/dogecoin-activeaddresses.html#1y" target="_blank" rel="noopener" data-wpel-link="external">data</a> from Bitinforcharts, the active address count on Dogecoin has surged to levels not seen since August 2022, going above 100k this month.</li>
<li>Throughout this year, the network has consistently attracted over 47,000 daily users.</li>
<li>Moreover, the address count has remained above 55,000 over the past month.</li>
<li>Such a trend can be indicative of an increasing market share as well as interest in the blockchain network, eventually resulting in a spike in demand for the underlying crypto-asset.</li>
<li>The transaction fees also skyrocketed to a new level this week.</li>
<li>Alongside a recovery across the broader crypto market, Dogecoin has almost doubled after bottoming out at $0.049 in June 2022.</li>
<li>After Musk&#8217;s controversial takeover of Twitter, many hoped that DOGE would become the social media platform&#8217;s official payment token.</li>
<li>While this is yet to transpire, the Twitter Chief briefly replaced the platform&#8217;s iconic bluebird logo with DOGE&#8217;s official mascot earlier in the month, which triggered a rally of nearly 40%.</li>
<li>More recently, Musk <a href="https://cryptopotato.com/doge-jumps-6-following-elon-musks-1m-dogecoin-offer/" target="_blank" rel="noopener" data-wpel-link="internal">announced</a> a reward of 1 million DOGE to anyone who can locate the existence of an emerald mine that many reports claim his family owns. This, too, provided a significant leg up to the memecoin.</li>
</ul>
The post <a href="https://cryptopotato.com/dogecoin-doge-active-address-spike-above-100k-for-the-first-time-in-9-months/" rel="nofollow">Dogecoin (DOGE) Active Address Spike Above 100K for the First Time in 9 Months</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

Dogecoin (DOGE) Active Address Spike Above 100K for the First Time in 9 Months

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