Increased Interest Drives #Dogecoin Holder Base to Record High
As meme currency interest rises, Dogecoin almost set a record in one statistic. This time, cryptocurrency holders hit a record high, indicating growing crypto investor acceptance.
Over 6.9 Million Dogecoin Holders
March is good for Dogecoin. This month, the meme coin's price and holding base have increased significantly. DOGE holders reached 6.9 million for the first time this month, a record. As its number rises, the meme coin is far from finished.
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According to Coincarp, 6,932,763 Dogecoin holders were on the mainnet on March 28. Given the growing pace of holdings over the previous month, the number might reach 7 million by March.
The adoption of DOGE in recent months is shown by this new record. Dogecoin has prevailed as the top meme currency despite new challengers including BONK, PEPE, and WIF and its biggest adversary, Shiba Inu.
The DOGE holding base began 2024 with 6.06 million holders. More than 6.9 million holders exist three months later, a 14% increase.
DOGE outlook remains positive
Dogecoin holders, daily transaction counts, whale transactions, and age consumed have all increased rapidly. These indicate positive investor optimism that the price will increase.
The age consumed is crucial since more investors are holding DOGE coins longer. The meme currency has rallied at a time when much of the crypto market is subdued due to lessened selling pressure.
Daily transaction volume has increased over 50% in the past day. This increase in Dogecoin trading and its price rise in the past day imply that most of this activity is purchasing rather than selling.
The DOGE price is up roughly 10% in the past day, indicating this interest. Bears maintain resistance around $0.2, causing the meme currency to fall.
