In a remarkable achievement for Dogecoin (DOGE), the cryptocurrency has reached a significant milestone with over 5 million addresses holding a non-zero balance. According to data from the crypto analytic platform IntoTheBlock (ITB), this accomplishment is accompanied by a surge in daily active addresses.
Milestone in Non-Zero Addresses
As reported by ITB, the number of Dogecoin addresses with a balance has skyrocketed to an impressive 5 million, marking a substantial growth in the user base.
Related article: Dogecoin (DOGE) Bulls Anticipate Surge in Coming Weeks
Surge in Daily Active Addresses
Coinciding with the surge in non-zero addresses, Dogecoin has experienced a tremendous increase in user activity. ITB notes a staggering 168,000 daily active Dogecoin addresses, the highest since March 2022.
Despite the positive data, a Dogecoin enthusiast raised questions about ITB’s figures, claiming that 4.8 million addresses hold 1.5% of DOGE’s circulating supply. ITB attributes this surge to the presence of Doginals – fragments of DOGE on the Dogecoin network.
Related also: DOGE Whale Alert As Transactions ($100k+) Hit New Highs
In recent weeks, Dogecoin has been making headlines for positive reasons. Large transactions exceeding $100,000 reached a new high of 1,500. Before these developments, addresses holding 1 million or more DOGE witnessed a significant uptick, reaching 4,715.
Current Status and Market Position
At the time of reporting, DOGE is trading at $0.077, experiencing a 1.26% decrease in the last 24 hours. Despite being down 89.45% from its all-time high, Dogecoin holds the 10th position in the cryptocurrency rankings, boasting a market capitalization of $10.95 billion.
While there are growing speculations that Dogecoin could surge to $1.5 in the upcoming bull run, the certainty of this remains unclear.
Dogecoin’s recent accomplishments in non-zero addresses, daily activity, and positive market movements underscore its resilience and growing popularity. As the cryptocurrency landscape continues to evolve, Dogecoin’s position and potential for further growth remain subjects of keen interest.
