Dogecoin (DOGE) investors are in eager anticipation due to the surprising growth in the popular memecoin and the potential rally in DOGE’s price that this could signal. Notably, renowned cryptocurrency analyst Ali Martinez shared a chart last week showing an unprecedented 1100% increase in the number of new Dogecoin wallet addresses, further fueling these expectations. This surge in network growth has led to speculation on whether DOGE’s price could reach the much-anticipated $0.10 level.
Dogecoin’s Wallet Address Growth Breaks Records
The crypto community was taken by surprise with a recent post from cryptocurrency analyst Ali Martinez on his personal account. Martinez shared a chart that revealed a staggering 1100% increase in new Dogecoin wallet addresses within just one week. According to the data, on January 29th, a record-breaking 247,240 new DOGE wallet addresses were created, bringing the number of new wallet addresses to an all-time high.
The increase in new wallet addresses has led to various speculations about its potential impact on DOGE’s price. Martinez suggests that the continued upward trend in network growth could positively affect the altcoin’s price, further igniting these speculations.
Interest in DOGE is Rising
Market analysts and enthusiasts have started to closely monitor DOGE’s price movements following these developments, with many considering the $0.10 level as a significant turning point. Especially, Martinez’s positive outlook has fueled speculation towards this level, increasing curiosity among investors. The dynamic cryptocurrency market is currently abuzz with discussions about the potential catalysts behind this wave of speculation.
Moreover, Dogecoin has recently seen a surge in interest due to speculation about corporate acceptance. The opening of an account named “Payments” by the company of famous billionaire Elon Musk, who has supported Dogecoin in the past, is cited as a primary reason for the increased interest. This move has led to various speculations that DOGE could be integrated into the social media platform’s upcoming payment system.
In addition, the owner of the Dallas Mavericks, Mark Cuban, confirmed that the NBA team continues to embrace Dogecoin as a payment method, which has supported the growing interest in the altcoin. This confirmation is significant as it verifies the continuation of an integration that dates back to March 2021, when BitPay allowed traders and consumers to make payments with Dogecoin. Dogecoin’s early adoption by the NBA team Dallas Mavericks is part of the increasing acceptance of cryptocurrencies in mainstream sports partnerships.
