2024

Dogecoin

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Dog-themed cryptocurrency <a href="https://u.today/dogecoin-doge-shows-epic-dominance-in-this-network-metric">Dogecoin (DOGE)</a> continues to sustain its network growth, with 890,000 new addresses added in a matter of days.
According to <a href="https://twitter.com/intotheblock/status/1753032406242644163">IntoTheBlock</a>, over 890,000 new Dogecoin addresses were created in the past seven days. Network activity has also increased, with the new adoption rate hitting 86% as new users completed their first transactions.
The new adoption rate statistic from IntoTheBlock <a href="https://twitter.com/intotheblock/status/1753032406242644163">calculates</a> the proportion of new addresses that make their first transaction out of all active addresses on a given day. It provides insight into the proportion of total activity that newcomers account for, reflecting the rate of new user adoption.
<blockquote>
 Over 890.000 new Dogecoin addresses were created in the past 7 days. Activity also spiked, with the new adoption rate reaching as high as 86% as the new users made their first transactions.🔗<a href="https://t.co/sVl5CEGkou">https://t.co/sVl5CEGkou</a> <a href="https://t.co/0LxATAEGaO">pic.twitter.com/0LxATAEGaO</a>— IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1753032406242644163?ref_src=twsrc%5Etfw">February 1, 2024</a>
</blockquote> 
This indicator gives information on the network's growth in terms of new user adoption. A higher percentage, as in the Dogecoin instance, could imply a growing network with more new user adoption.
Earlier this week, crypto analyst Ali observed that the Dogecoin network was experiencing a stunning boom in growth, with new addresses jumping by a staggering 1,100% over the previous week. On Jan. 29, a record-breaking 247,240 new DOGE addresses were created, setting an all-time high.
Notably, the advent of the DRC-20 token standard in the past year has led to a significant increase in Dogecoin network activity.
<h2 id="doge-price">DOGE price</h2>
At the time of writing, <a href="https://u.today/dogecoin-250-volume-spike-excites-doge-bulls-levels-to-watch">DOGE</a> was down 0.74% in the last 24 hours to $0.078.
Dogecoin is engaged in a fierce battle between bulls and bears near the $0.08 mark. The bears have frequently rejected bullish attempts to clear this level, but buyers have not given up much ground, which is a favorable sign.
This might be a crucial level to monitor because a break above it will signal a short-term trend change. Dogecoin may climb to the $0.10 to $0.11 resistance zone. This optimistic perspective will be discredited if the Dogecoin price falls and breaks below the $0.07 support.

Dogecoin (DOGE) Network Explodes With 890,000 New Addresses in Stunning Surge

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