Dogecoin Active Addresses surge nearly 12% overnight, to DOGE all-time high
Source Fxstreet
- Dogecoin network observed an increase of 1,094% in new addresses in the past week.
- DOGE hit a new all-time high when 247,240 new addresses created on January 29.
- DOGE price recovered slightly, likely to climb to $0.8528 in its uptrend.
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.
Also read: Bitcoin price could rally as buying power increases with rise in exchange stablecoin reserves
Dogecoin witnesses spike in new DOGE addresses
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.
%20[16.27.20,%2030%20Jan,%202024]-638422110491888340.png)
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.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Prioritize filling the $27,000 gap and even try higher.
Bitcoin briefly loses 2025 gains as crypto plunges over the weekend.Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant.
The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year.
Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus.
Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses.
Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.
Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant.
The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year.
Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus.
Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses.
Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.
Bitcoin Price Forecast: BTC slips below $64,000 as hawkish Fed stance weighs on risk appetiteBitcoin (BTC) remains under pressure, extending its correction, trading below $64,000 at the time of writing on Thursday. The US Federal Reserve (Fed) left interest rates unchanged but struck a hawkish tone on Wednesday, dampening the risk sentiment.
Bitcoin (BTC) remains under pressure, extending its correction, trading below $64,000 at the time of writing on Thursday. The US Federal Reserve (Fed) left interest rates unchanged but struck a hawkish tone on Wednesday, dampening the risk sentiment.
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – steadies during the Asian session on Friday, stalling the previous day's downfall amid mixed messaging from the US and Iran.
Gold price (XAU/USD) rebounds to around $4,120 during the early Asian session on Friday. The precious metal edges higher as traders weigh a resumption of war in the Middle East.
Related Instrument
