Dogecoin Active Addresses Surge…Up 176% in a Week

Source

JOON HYOUNG LEE

Summary

Ali Martinez said Dogecoin’s active addresses surged 176% over a week, rising from 41,557 to 114,662.
Coinpaper said rising network activity indicates expanding demand for token transactions, and that if Dogecoin network participation remains high, the market could see liquidity expand and fresh bullish sentiment take shape.
Dogecoin is trading at $0.096 on CoinMarketCap, up 1.36% from the previous day, and more than 7.5% higher than a week ago.

Forecast Trend Report by Period

Dogecoin (DOGE) has seen its number of active addresses surge by nearly 180% over the past week.

Crypto analyst Ali Martinez said on the 14th (local time) that “the number of Dogecoin active addresses jumped 176% over the past week, from 41,557 to 114,662.” Active addresses are a key metric used to gauge usage of a blockchain network.

*Dogecoin (DOGE) active address trend. Photo=Ali Martinez*

Expectations for a rise in Dogecoin’s price are also growing. Crypto news outlet Coinpaper said that “an increase in network activity typically signals expanding demand for token transactions,” adding that “if participation in Dogecoin’s network continues to remain elevated, the market could see fresh bullish sentiment form alongside increased liquidity.”

Meanwhile, as of 5:15 p.m. today, Dogecoin is trading at $0.096 on CoinMarketCap, up 1.36% from the previous day. That marks a gain of more than 7.5% compared with a week earlier.

DOGE