As an analyst with a background in cryptocurrency research and analysis, I find the data on Dogecoin’s (DOGE) total addresses and price action intriguing. According to IntoTheBlock, DOGE has surpassed 90 million total addresses, which is a significant milestone. However, it’s important to note that not all of these addresses hold Dogecoin, as some may represent multiple users or inactive wallets.
As a crypto investor, I’m excited to share some intriguing insights from IntoTheBlock data about Dogecoin (DOGE). The number of unique addresses holding DOGE has reached an impressive milestone, surpassing the 90 million mark. This figure encompasses all the wallets that have ever owned or currently own Dogecoin. At present, Dogecoin boasts a total of approximately 90.34 million addresses.
The number of unique Dogecoin addresses is distinct from the number of Dogecoin addresses that contain a balance, as defined by IntoTheBlock, which encompasses all Dogecoin-holding addresses.
In certain situations, an individual might possess numerous addresses for different reasons, such as securing cryptocurrencies across multiple addresses. Alternatively, there are instances where a single address may contain funds belonging to multiple users, like centralized exchanges managing their clients’ assets. This diversity is mirrored in the overall count of addresses with a balance.
As a researcher studying the Dogecoin blockchain, I’ve discovered that there are approximately 6.5 million unique addresses holding a non-zero balance of this cryptocurrency. However, it’s important to note that there are an additional 83.84 million addresses with a zero balance. These addresses once held Dogecoins but have since been emptied or inactive.
Amidst this scenario, it’s important to mention that the count of addresses holding a balance has consistently risen since the beginning of 2024.
Over an extended period, the overall count of wallets holding a positive balance for a particular cryptocurrency represents the level of investor engagement and commitment to that asset. A rising figure of such wallets signifies a stronger and growing community of users.
Dogecoin price action
Dogecoin was up 0.52% in the last 24 hours to $0.124, and it is up 1.11% in the last seven days.
As a researcher studying the cryptocurrency market, I’ve observed that Dogecoin fell beneath its daily Simple Moving Average (SMA) 200 at a price of $0.128 on June 18th. Since then, the coin has been exhibiting signs of consolidation or trading within a range below this significant threshold.
As a researcher studying the Dogecoin market, I’ve noticed that for a potential strong comeback, the bulls must first propel the price above the daily Simple Moving Average (SMA) 200 at $0.128. Following this breakout, Dogecoin could advance towards the daily SMA 50 at $0.15. Reaching this level might enable Dogecoin to exit the previous trading range between $0.12 and $0.18. However, if the bulls fail to push the price above the SMA 200, it may suggest that the range-bound action will persist for a brief period longer.
If the DOGE price continues to decrease and drops below $0.12, this could be a sign that bears are dominating the market. This may lead to a further decline towards $0.10, at which point bulls might try to regain control and stop the price drop.
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2024-06-28 19:31