Dogecoin network has observed a surge in Daily Active Addresses and New Addresses. On January 29, new DOGE addresses hit an all-time high of 247,240, according to data from IntoTheBlock.
DOGE price climbed to $0.8215 on Tuesday.
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According to data from on-chain intelligence tracker, IntoTheBlock, DOGE network saw a 1,094% increase in New Addresses in the past week. 247,240 new DOGE addresses were created on January 29, and this marked a new all-time high.
Dogecoin is likely to witness a sustained network expansion. This could catalyze price gains in the meme coin.
DOGE Daily Active Addresses. Source: IntoTheBlock
Santiment charts reveal a 12% surge in Active Addresses overnight, DOGE Active Address count hit 393,060 on January 30, at the time of writing. This increase implies DOGE is relevant among market participants and there is a surge in demand for the asset among traders. Higher address activity supports a bullish thesis for DOGE price.
DOGE Active Addresses. Source: Santiment
At the time of writing, DOGE price is $0.0821, the meme coin’s price remained unchanged on the weekly timeframe.