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The surge in adoption of Dogecoin (DOGE), the well-known humorous cryptocurrency, persists, marked by the number of crypto addresses holding DOGE exceeding 5 million for the first time. This growth, witnessed two years post the initiation of the COVID-19 pandemic, suggests an enduring interest in less serious digital assets. Nevertheless, despite a substantial increase in active addresses and confirmed transactions within the DOGE network, concerns linger regarding the concentration of ownership within the DOGE ecosystem. Elevated Metrics and Ongoing Concerns Data provided by on-chain analytics firm IntoTheBlock indicates a significant rise in DOGE adoption, with the number of addresses holding the cryptocurrency surpassing 5 million. The count of active addresses has more than doubled, reaching 168,000, the highest since March 2022. Additionally, confirmed transactions on the Dogecoin blockchain have surged, registering a remarkable 1,000% increase in the past 10 days, reaching l...

Dogecoin has gained significant popularity as a meme coin, serving as an inspiration for a multitude of other animal-themed cryptocurrencies. These meme coins, as their name implies, were initially created as a lighthearted joke. However, they have experienced a remarkable surge in popularity in recent times. In an attempt to participate in the meme coin frenzy, many users have shown interest in joining this growing trend. Dogecoin played a pivotal role in initiating the meme coin craze and subsequently inspired the development of various coins that aim to emulate its success. Also read: Shiba Inu: 85% of SHIB Holders Are in Loss With numerous users getting their hands on Dogecoin, a question arises about how high DOGE can go in July-end 2023. Before we dive into our Dogecoin price prediction for July-end, let us take a brief look at Dogecoin’s history. A brief history of Dogecoin Developed in 2013 by Billy Markus as a lighthearted joke based on the “ doge ” meme, Dogecoin...

Bitcoin and most major altcoins are selling-off on rallies, proof that investor sentiment remains negative in the short-term. The United States stock markets are trying to recover on reports that the debt ceiling talks are showing promise and a debt default may be avoided. However, the same enthusiasm is not seen in the cryptocurrency markets. Bitcoin (BTC) has slipped back below the $27,000 support on May 17, indicating that buyers are struggling to sustain the relief rallies. Institutional investors seem to be booking profits due to the macro uncertainty. CoinShares’ Digital Asset Fund Flows Report shows a total outflow of $200 million from digital asset investment products in four consecutive weeks. Daily cryptocurrency market performance. Source: Coin360 While the short-term picture remains negative, the chart structure on Bitcoin has not been broken. Bitcoin has corrected about 15% from its local high of $31,000 made on April 14 but it remains above $25,000, indicating that the w...

Despite its decline, and the perspective that the hype surrounding the newest meme coin is over, Pepe Coin (PEPE) is still beating both Dogecoin (DOGE) and Shiba Inu (SHIB) in trading volume. Specifically, the news arrives despite an overall 25% weekly decline of the newest meme coin. The development shows that whales are continuing their accumulation of PEPE. as it still maintains a daily trading volume that is greater than $350 million. Alternatively, DOGE has a trading volume of comparatively $214 million. $pepe has been #1 in memecoin volume for over a week pic.twitter.com/nv2T8FPrHH — borovik.eth (@3orovik) May 15, 2023 PEPE Decline Doesnt Affect Recent Dominance A viral sensation has catapulted PEPE to a meteoric rise unlike any other. Moreover, since its arrival in April, the meme coin has catapulted into the top 100 and displayed a competitiveness that places it among the quickest-growing digital assets in the industry.  Yet, a recent downturn hasn’t ...

Dogecoin ’s network has been seeing increased traction of late. The total fees collected by the network from the users using its blockchain noted a substantial spike. As shown below, the current levels are at a 1-year high. The local peak created in November 2022 was quite close, but now, Dogecoin has managed to surpass it. According to date, the aggregate fee collected by the Dogecoin network has inclined by nearly 300% over the past week. On the 90-day window, the number stands much elevated at 707.69%. Source: IntoTheBlock Also Read: After ‘Doge’ Mention, Is Burger King Now ‘Making’ its Own Crypto? Alongside, it is interesting to note that $1 million to $10 million worth of Dogecoin transactions has also noted a rise over the past few weeks. Over the past 30 days, they have inclined by 282%, bringing to light the increased activity by large market participants. Alongside, the transaction count in the $100-$1k and $1k to $10k brackets have also risen in the same per...

Dogecoin [DOGE] investors have been rooting for the asset to hit $1 for the longest time. The meme coin, despite garnering endorsements from the world’s richest man, Elon Musk, has struggled in terms of its price. An analyst, however, pointed out that the cryptocurrency has a strong resistance level that it has been trying to breach. According to Ali Martinez, $0.086 has been a pertinent resistance zone with 92K addresses holding 13 billion DOGE. In addition to this, with 44K addresses holding over 34 billion coins, $0.075 has been acting as a prominent level of support. Source At press time, Dogecoin was trading for $0.08069 with a 1.90% daily drop. Considering the latest market sentiment, DOGE could have a tough time moving past the above mentioned level of resistance. Source – DOGE/USDT Chart on TradingView Dogecoin’s short-term price chart was exhibiting a bearish notion. The Parabolic SAR indicator formed dotted lines over the candlesticks further res...