Dogecoin Hits Wallet Milestone Amid Market Decline, Sees Surge in User Activity
DOGE witnesses activity spike as Coin98 Integration could boost future performance.
Despite a downturn in the cryptocurrency market, memecoin Dogecoin (DOGE) has achieved a significant milestone. The popular dog-themed cryptocurrency has seen a surge in the number of wallets holding it and a remarkable increase in user activity.
Dogecoin recently recorded a substantial rise in the total number of addresses with a balance, reaching 5.02 million, as reported by crypto market intelligence platform IntoTheBlock on November 27. This milestone coincided with a significant surge in Dogecoin’s daily user activity, with around 168,500 active addresses recorded on November 26, marking the highest engagement since March 2022.
This sudden increase in activity may be attributed to the announcement by decentralized finance (DeFi) platform Coin98, which integrated Dogecoin into its latest versions of Coin98 Super Wallet and Coin98 Extension, offering tangible benefits to DOGE holders.
At the time of writing, Dogecoin was trading at $0.078, reflecting a 1.58% decline on the day. However, it still maintained a 0.85% gain on the day and a larger increase of 13.55% over the past month.
Dogecoin’s recent milestone indicates a strong interest among crypto traders and investors. This interest could potentially influence its price in the near future, especially considering that 57% of its holders are currently in profit, as reported by Finbold on November 25.