According to U.Today, the number of non-empty Dogecoin wallets has seen a 13.8% increase over the past three months, as reported by on-chain analytics firm Santiment. This growth has occurred despite a recent flattening trend following a significant rise earlier this year. The increase in non-empty wallets signifies continued Dogecoin user activity, underlining the lasting appeal of the well-known cryptocurrency. The growth in active wallets also suggests a continued interest in the dog-themed cryptocurrency, even amidst a market consolidation phase. This indicates that the Dogecoin community remains active and could potentially be growing, despite the absence of dramatic price changes.
Dogecoin's price experienced a rally at the beginning of the year, partially driven by a surge of retail investor interest, reaching a peak of $0.229 on March 28. Following this, Dogecoin entered a period of consolidation, with its price stabilizing and trading within a range. Despite this apparent stabilization, the Dogecoin community remains vibrant and engaged, as demonstrated by the increase in non-empty wallets. This growth in non-empty wallets also coincides with ongoing developments and initiatives aimed at broadening Dogecoin's adoption.
In late March, the Dogecoin Foundation launched v.1.0 of GigaWallet, a backend service that offers a convenient integration API for platforms such as online shops, exchanges, and social media platforms to transact Dogecoin programmatically. The rise in non-empty wallets could be a positive sign for Dogecoin, suggesting that the community is not solely driven by speculative trading, but also includes users who see long-term value in holding DOGE. At the time of writing, DOGE had risen 2.82% in the last 24 hours to $0.149, slightly rebounding after yesterday's drop to lows of $0.142. Dogecoin currently ranks as the eighth largest cryptocurrency, with a market cap of $21.49 billion.