Dogecoin (DOGE) is a decentralized, open-source cryptocurrency that originated from a meme featuring a Shiba Inu dog. It operates on a peer-to-peer network, allowing users to securely send and receive digital payments.
With a friendly and active community, Dogecoin has gained popularity for its quick and low-cost transactions, making it a fun and accessible option in the world of cryptocurrencies.
Currently, the altcoin market surge is pushing Dogecoin to reach an ATH level. This meme coin is trading at $0.1217 after a substantial price increase driven by the recent Bitcoin bull market.
In a recent development, Dogecoin’s Mainnet has witnessed a significant increase in the number of holders. This indicates the growing popularity of Dogecoin as an investment option.
Dogecoin Mainnet Sees Surge in Holders
The recent Bitcoin bull run has injected fresh energy into the cryptocurrency market, propelling it to new heights. The surge in interest in altcoins indicates a growing momentum among enthusiastic users capitalizing on this wave.
Notably, Dogecoin is experiencing a significant influx of holders, as highlighted by a prominent crypto figure “CEO” on platform X.
According to the chart provided by the analyst, Dogecoin is showing an upward trend in the number of holders, indicating a rising level of interest and investment from users in the cryptocurrency market.
JUST IN: The Dogecoin mainnet is experiencing a surge in holders. pic.twitter.com/rJjXEaVTdW
— CEO (@Investments_CEO) March 1, 2024
Dogecoin Surges to a Two-Year High
The Dogecoin’s price has skyrocketed by almost 42% in the last seven days, hitting $0.13. This marks the first time Dogecoin has reached $0.13 in nearly two years, showing significant growth in a short span.
Dogecoin is trading in the red at press time, showing a 6% decrease in value over the last 24 hours. The price is currently at $0.1193, dropping by 40.33% in trading volume in the last 24 hours.
Moreover, as reported by the blockchain tracker Whale Alert, three significant whale transfers totaling 276.06 million DOGE occurred, indicating both accumulation and a simultaneous dump of the cryptocurrency.
Two unknown wallets have acquired 222.07 million DOGE from Robinhood, a popular trading platform, while another unknown wallet transferred 53.99 million DOGE to Coinbase, one of the prominent cryptocurrency exchanges in the market.
However, how high will the DOGE Coin go in 2024? Well, our experts anticipated that Dogecoin could reach a maximum price level of $0.223 with an average value of $0.202 by the end of 2024. If the market gets bearish, the price of Dogecoin can fall to $0.189 by 2024.
Also Read: Shiba Inu (SHIB): $500 Investment in 2020 Turns Into $5.5 Million in 2024
Disclaimer: The information in this article should not be considered anything as financial advice, and the OvenAdd platform is intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.
