Milestone in popular memecoin Dogecoin; The number of wallets holding DOGE exceeded 5 million.
According to on-chain data, Dogecoin has achieved a new milestone. The number of people holding DOGE in their wallets exceeded 5 million. DOGE, which managed to become the most popular cryptocurrency of a period, attracted attention with its increasing adoption.
As BTC mobilized the crypto market in anticipation of the Bitcoin spot ETF, DOGE market value also increased by 14 percent. DOGE reached a market value of $11 billion this month. Increasing demand has also driven adoption. DOGE reached the number of wallets exceeding 5 million for the first time.
Dogecoin (DOGE) adoption is on the rise
According to CoinDesk, things are quite positive for Dogecoin (DOGE) in on-chain data. According to data, the number of people holding DOGE in their wallets exceeded 5 million. Additionally, the number of active wallets on Dogecoin reached 168 thousand, the highest level since March 2022.
Another on-chain data showed that the number of Dogecoin transactions reached the highest level since June. Although the numbers stand out, the wallet accumulation for DOGE is at a critical level. According to data from BitInfoCharts, fewer than 5,000 wallets manage more than 80 percent of the DOGE supply. This means that a small number of wallets may be the deciding factor in the course of the DOGE price.
Still, the increased adoption and increasing number of wallets in Dogecoin have had a positive impact on its market value. DOGE reached a market value of $11 billion. The popular cryptocurrency gained popularity in 2021 with FOMO created by many factors, especially Elon Musk. DOGE has achieved a remarkable rise, especially in recent days, and reached the level of $ 0.080.
Memecoin fans are still waiting for a bull run for SHIB and FLOKI, especially DOGE.
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