From Blockchainmedia - Dogecoin ($DOGE ) recently reached a significant milestone. The number of wallet addresses holding Dogecoin has surpassed the 90 million mark, driven by a market recovery that saw the meme cryptocurrency surge 15 percent in just one week.
Dogecoin Surpasses 90 Million Wallets According to data from on-chain analytics company IntoTheBlock, there are now 90 million wallet addresses holding Dogecoin. It is important to note that one wallet does not necessarily mean one user, as anyone can create multiple wallets.
Additionally, some wallets, such as those owned by exchanges, may hold DOGE for various users.
Crypto Globe reports, this achievement comes amidst increasing demand for Dogecoin in the broader crypto market. Some analysts believe this surge in the number of wallet addresses could push DOGE prices to the coveted US$1 mark by the end of this year.
This optimism is driven by the increasing number of holders, which is often considered a positive indicator for future price performance.
Crypto analysts have shared their thoughts on the future of Dogecoin. One of them, well-known pseudonymous analyst Kaleo, recently expressed a bullish long-term view for Dogecoin.
He believes that we are currently in a memecoin supercycle and expects DOGE to eventually reach between US$1 and US$2. However, Kaleo stressed that historical trends suggest there is still some time before this happens, giving investors a chance to prepare.
Another analyst, Javon Marks, also shared optimistic projections for DOGE. Marks suggested that Dogecoin could soon see a price spike to US$0.653, representing an increase of more than 400% from the current level of US$0.118.
Marks believes it is only a matter of time before this surge occurs, driven by current market dynamics and increasing investor interest.
Dogecoin's historical performance is characterized by significant volatility, typical of cryptocurrencies, especially memecoins. Despite this, DOGE has managed to maintain a loyal and enthusiastic community.
The recent increase in the number of wallet addresses holding DOGE shows growing interest and confidence in its potential.
Kaleo analysis sheds light on Dogecoin's past trends, highlighting periods of rapid growth followed by corrections.
