Dogecoin Price Prediction: On track to hit $1 milestone?
According to IntoTheBlock, the number of wallet addresses holding Dogecoin has exceeded 90 million, showing the growing popularity of Dogecoin among investors. This includes the cumulative addresses that once held Dogecoin tokens. Notably, the number of addresses holding Dogecoin currently stands at about 4.76 million, indicating a strong interest in the coin.
The sharp increase in Dogecoin wallet addresses coincides with the bullish market trend, which could push the coin's value closer to the psychological mark of $1. Earlier this year, Dogecoin and other meme coins such as Shiba Inu (SHIB) all rose sharply, hitting new highs in price. According to CoinMarketCap, Dogecoin has risen 12.57% in the past 24 hours, with a 65.86% increase in trading volume. In addition, its market capitalization has risen 3.68%, which stands out in the overall market volatility.
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Although the path to $1 may face obstacles, analysts remain optimistic about its potential for significant price fluctuations. Investors keen on following emerging trends should keep an eye on Dogecoin as it has a unique position in the cryptocurrency market.
