Dogecoin

<p style="text-align: justify">The largest memecoin and the 8th largest altcoin, <a href="https://en.coin-turk.com/bitcoin-holds-above-26000-inspiring-hope-possible-rally-for-altcoins/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Dogecoin</a> (&lt;a href="https://en.coin-turk.com/crypto-<a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">market</a>-trembles-bitcoin-drops-below-25k-impacting-altcoins/”&gt;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.</p>
<h2 style="text-align: justify" id="strong-dogecoin-s-on-chain-metrics-continue-to-sound-alarms-strong"><strong>Dogecoin’s On-Chain Metrics Continue to Sound Alarms</strong></h2>
<p style="text-align: justify">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.</p>
<p style="text-align: justify"><img decoding="async" class="aligncenter size-full wp-image-281868" src="https://coin-turk.com/wp-content/uploads/2023/11/Dogecoin-Altcoin-DOGE.jpeg" alt="" width="978" height="438"></p>
<p style="text-align: justify">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.</p>
<p style="text-align: justify">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.</p>
<h2 style="text-align: justify" id="strong-current-price-situation-of-doge-strong"><strong>Current Price Situation of DOGE</strong></h2>
<p style="text-align: justify">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.</p>
<p style="text-align: justify">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.</p>
<ul class="summary">
 <li>Dogecoin’s adoption continues to surge post-pandemic.</li>
 <li>On-chain metrics indicate growing network activity.</li>
 <li>Ownership concentration poses risks to DOGE’s price stability.</li>
</ul> Continue Reading: <a href="https://en.coin-turk.com/the-surge-of-dogecoin-a-deep-dive-into-its-growing-adoption-and-on-chain-metrics/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/the-surge-of-dogecoin-a-deep-dive-into-its-growing-adoption-and-on-chain-metrics/</a>

The Surge of Dogecoin: A Deep Dive into Its Growing Adoption and On-Chain Metrics

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