Bitcoin

Dogecoin

Dogecoin has gained more holders recently, with an increase of over 100,000 in just the last three days.<img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/01/Add-a-heading-3.png?fit&#61;900%2C300&amp;ssl&#61;1" />Cryptos Headlines Platform Has Launched Its Native Token, Early Public Sale Is Live On <a href="https://cryptosheadlinestoken.com/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a>Dogecoin (DOGE) has seen a rise in important measures lately, signaling a growing number of new users joining the network. This increase has led to higher levels of activity across various aspects of the Dogecoin ecosystem.<h3 id="dogecoin-s-surge-in-new-accounts">Dogecoin’s Surge in New Accounts</h3>According to IntoTheBlock, the Dogecoin ecosystem has witnessed a significant uptick in new accounts over the past seven days. With over 890,000 new accounts created during this period, there’s clear evidence of growing interest among users in joining the Dogecoin network. This surge in new accounts has had a noticeable impact on various address metrics.Analysis of the seven-day <a href="https://cryptosheadlines.com/bitcoin-address-activity-signals-short-term-price-jump/" rel="noopener noreferrer nofollow">active addresses</a> metric on Santiment reveals a substantial influence on Dogecoin’s active addresses due to the recent influx of new accounts. In December, the <a href="https://cryptosheadlines.com/new-project-on-terra-classic-sets-record-for-highest-lunc-burn-surpassing-binance/" rel="noopener noreferrer nofollow">highest recorded</a> number of active addresses was around 1.3 million, followed by a decline to the 500,000 range.However, starting around January 25th, there has been a consistent increase, with active addresses now reaching approximately 1.4 million as of the <a href="https://cryptosheadlines.com/glassnode-warns-btcs-critical-level-announced-in-latest-data/" rel="noopener noreferrer nofollow">latest data</a>. This marks the highest level observed in this metric over the past six months.<img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/cryptosheadlines005.webp?resize&#61;640%2C218&amp;ssl&#61;1" />Source: Santiment<h3 id="dogecoin-activity-and-holder-growth">Dogecoin Activity and Holder Growth</h3>The <a href="https://cryptosheadlines.com/dogecoin-faces-dire-situation-as-daily-active-addresses-plummet/" rel="noopener noreferrer nofollow">daily active addresses</a> for DOGE followed a similar trajectory, experiencing a rise and peaking at around 287,000 on January 29th. This marked a significant increase from the previous highest recorded number of about 144,000. Currently, the daily active addresses hover around 150,000, indicating sustained engagement and <a href="https://cryptosheadlines.com/ethereum-eth-price-hits-2k-amid-surging-network-activity/" rel="noopener noreferrer nofollow">activity within the network</a>.<a href="https://cryptosheadlines.com/solana-foundation-and-coindcx-empower-indias-web3/" rel="noopener noreferrer nofollow">Also Read: Solana Foundation and CoinDCX Empower India&#39;s Web3</a><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/cryptosheadlines006.webp?resize&#61;640%2C218&amp;ssl&#61;1" />Source: SantimentAdditionally, the number of Dogecoin holders has shown a consistent <a href="https://cryptosheadlines.com/upward-trends-predicted-for-sol-ada-near-link-cryptos/" rel="noopener noreferrer nofollow">upward trend</a> in recent weeks, closely aligning with the surge in new addresses. Between January 30th and now, the number of Dogecoin holders has grown by approximately 110,000. As of the latest data, the total count of DOGE holders has <a href="https://cryptosheadlines.com/registered-inscriptions-near-4-8-million-almost-doubled-in-over-a-week/" rel="noopener noreferrer nofollow">nearly reached 6 million</a>.<img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/cryptosheadlines007.webp?resize&#61;640%2C218&amp;ssl&#61;1" />Source: Trading View<h3 id="dogecoin-price-response-to-new-users">Dogecoin Price Response to New Users</h3>Analyzing the daily timeframe chart of Dogecoin reveals that the recent <a href="https://cryptosheadlines.com/bitcoin-hash-rate-surges-impact-on-price-outlook/" rel="noopener noreferrer nofollow">surge in new users has not significantly impacted the price</a>. The chart indicates a lack of notable movement over the past few days.As of the latest data, DOGE was trading around a 0.5% decline in value. The highest increase observed in the last seven days was a 3.04% uptick.<img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/cryptosheadlines008.webp?resize&#61;640%2C280&amp;ssl&#61;1" />Source: Trading ViewDespite the influx of new users and increased network activity, the impact on the coin’s value seems limited within this timeframe.Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

Dogecoin’s New Users: Impact on DOGE Prices?

Table of Contents

CryptosHeadlines.com

Other articles published on Feb 3, 2024

Chainlink (LINK): What’s Next After 30% Weekly Surge?

Bitcoin to Likely Perform Well in 2024 as Market Turns Bullish: Report

Uniswap reclaims top DEX spot after brief Jupiter decline

Bitcoin is Bullish! Many Fail to Discover as the BTC Price Appears to be Primed to Hit $45,000 in...

JPMorgan Chase Customers’ Deposits Go Missing, Bank Says It Has No Idea Where Money Went

Expect a 100x Surge for This Competitor of Solana (SOL) Upon Its Debut

Join our free newsletter for daily crypto updates!