{"id":573821,"date":"2024-02-07T23:00:39","date_gmt":"2024-02-07T23:00:39","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=573821"},"modified":"2024-02-07T11:58:37","modified_gmt":"2024-02-07T11:58:37","slug":"dogecoin-doge-path-to-0-2","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/news\/dogecoin\/dogecoin-doge-path-to-0-2\/","title":{"rendered":"Dogecoin Adoption Explodes In Stunning Move, Can DOGE Chart A Path To $0.2?"},"content":{"rendered":"

The Dogecoin adoption trend has taken the crypto market by surprise after the number of new wallets being created on the network skyrocketed. Last week, new wallet creations were the center of attention as more than 890,000 new DOGE wallets were added in a single week. This time around, a new Dogecoin metric is taking the stage<\/a>.<\/p>\n

New Non-Zero Dogecoin Addresses Rise Rapidly<\/h2>\n

In a new report<\/a>, the on-chain data tracking platform Santiment has identified rapid growth in one Dogecoin metric and that is the number of new non-zero addresses. These addresses include those that were created in the last week and are holding more than 0.001 DOGE on their balances.<\/p>\n

Related Reading: LUNC Price Rally Is Far From Over Following Falling Wedge Breakout, Analyst Says<\/a><\/div>\n

The report shows that this category of addresses jumped more than 400,000 in the space of two weeks. More specifically, 413,800 new wallets have been added in the last week, with DOGE balances ranging from between 0.001 and 1 DOGE. This earns them the classification of non-zero balances.<\/p>\n

Interestingly, this rapid rise in adoption happened at a time when the DOGE price was\u00a0struggling to hold up in the market. As Santiment notes in its post, the DOGE<\/a> price is down more than 23%, while network adoption has been on a bullish run.<\/p>\n

However, this rise in adoption does not have a positive effect on the DOGE price, suggesting that there isn\u2019t demand among the investors. More than likely, these new non-zero wallets are created by existing users who are looking to take advantage of and trade the newly introduced DRC-20 token standard on the network<\/a>.<\/p>\n

\"Dogecoin<\/p>\n

DOGE price fails to move with network growth | Source: DOGEUSDT on Tradingview.com<\/a><\/pre>\n
DOGE Comes Under More Selling Pressure<\/h2>\n
The Dogecoin price could be looking at more struggles ahead as more sell-offs could be looming on the horizon. Whale Alert, a platform that tracks the origin and destination of large crypto transactions, has flagged<\/a> a large DOGE transaction that has sparked speculation in the community.<\/p>\n
Related Reading: Here\u2019s Why A Bitcoin Bull Run In 2024 Is Inevitable<\/a><\/div>\n
According to the report, the whale sent a total of 100 million DOGE coins worth over $7.8 million to the Robinhood exchange. The destination of the transaction is important because usually when investors send coins to centralized exchanges such as Robinhood, the purposes are more than likely to sell. In this case, a $7.8 million sell-off could put further pressure on an already struggling DOGE price<\/a>.<\/p>\n
For the DOGE<\/a> price to climb as high as $0.2, there would need to be a catalyst, such as Elon Musk announcing Dogecoin payments for X (formerly Twitter). If the entire crypto market continues to perform poorly though, then the DOGE price<\/a> could fall as low as $0.07 before bouncing back.<\/p>\n
Follow Best Owie on X (formerly Twitter)<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from CryptoRank, chart from TradingView.com<\/strong><\/em><\/div>\n","protected":false},"excerpt":{"rendered":"
The Dogecoin adoption trend has taken the crypto market by surprise after the number of new wallets being created on the network skyrocketed. Last week, new wallet creations were the center of attention as more than 890,000 new DOGE wallets were added in a single week. This time around, a new Dogecoin metric is taking the stage. New Non-Zero Dogecoin Addresses Rise Rapidly In a new report, the on-chain data tracking platform Santiment has identified rapid growth in one Dogecoin metric and that is the number of new non-zero addresses. These addresses include those that were created in the last week and are holding more than 0.001 DOGE on their balances. Related Reading: LUNC Price Rally Is Far From Over Following Falling Wedge Breakout, Analyst Says The report shows that this category of addresses jumped more than 400,000 in the space of two weeks. More specifically, 413,800 new wallets have been added in the last week, with DOGE balances ranging from between 0.001 and 1 DOGE. This earns them the classification of non-zero balances. Interestingly, this rapid rise in adoption happened at a time when the DOGE price was\u00a0struggling to hold up in the market. As Santiment notes in its post, the DOGE price is down more than 23%, while network adoption has been on a bullish run. However, this rise in adoption does not have a positive effect on the DOGE price, suggesting that there isn\u2019t demand among the investors. More than likely, these new non-zero wallets are created by existing users who are looking to take advantage of and trade the newly introduced DRC-20 token standard on the network. DOGE price fails to move with network growth | Source: DOGEUSDT on Tradingview.com DOGE Comes Under More Selling Pressure The Dogecoin price could be looking at more struggles ahead as more sell-offs could be looming on the horizon. Whale Alert, a platform that tracks the origin and destination of large crypto transactions, has flagged a large DOGE transaction that has sparked speculation in the community. Related Reading: Here\u2019s Why A Bitcoin Bull Run In 2024 Is Inevitable According to the report, the whale sent a total of 100 million DOGE coins worth over $7.8 million to the Robinhood exchange. The destination of the transaction is important because usually when investors send coins to centralized exchanges such as Robinhood, the purposes are more than likely to sell. In this case, a $7.8 million sell-off could put further pressure on an already struggling DOGE price. For the DOGE price to climb as high as $0.2, there would need to be a catalyst, such as Elon Musk announcing Dogecoin payments for X (formerly Twitter). If the entire crypto market continues to perform poorly though, then the DOGE price could fall as low as $0.07 before bouncing back. Follow Best Owie on X (formerly Twitter) for market insights, updates, and the occasional funny tweet\u2026 Featured image from CryptoRank, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":573834,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[1785,89174,85675,90807,7,1803,1804,79599,79600],"class_list":["post-573821","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-doge","tag-doge-news","tag-doge-price","tag-doge-price-prediction","tag-dogecoin","tag-dogecoin-news","tag-dogecoin-price","tag-dogeusd","tag-dogeusdt"],"acf":[],"yoast_head":"\nDogecoin Adoption Explodes In Stunning Move, Can DOGE Chart A Path To $0.2?<\/title>\n<meta name=\"description\" content=\"The Dogecoin adoption trend has taken the crypto market by 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/www.ktsl888.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Dogecoin Adoption Explodes In Stunning Move, Can DOGE Chart A Path To $0.2?","url":"http:\/\/www.ktsl888.com\/news\/dogecoin\/dogecoin-doge-path-to-0-2\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.ktsl888.com\/news\/dogecoin\/dogecoin-doge-path-to-0-2\/"},"thumbnailUrl":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/02\/Dogecoin.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/02\/Dogecoin.jpeg?fit=1792%2C1024"},"articleSection":"Dogecoin","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["doge","doge news","doge price","doge price prediction","dogecoin","dogecoin news","dogecoin price","dogeusd","dogeusdt"],"dateCreated":"2024-02-07T23:00:39Z","datePublished":"2024-02-07T23:00:39Z","dateModified":"2024-02-07T23:00:39Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Dogecoin Adoption Explodes In Stunning Move, Can DOGE Chart A Path To $0.2?\",\"url\":\"http:\\\/\\\/www.ktsl888.com\\\/news\\\/dogecoin\\\/dogecoin-doge-path-to-0-2\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.ktsl888.com\\\/news\\\/dogecoin\\\/dogecoin-doge-path-to-0-2\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/Dogecoin.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/Dogecoin.jpeg?fit=1792%2C1024\"},\"articleSection\":\"Dogecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"doge\",\"doge news\",\"doge price\",\"doge price prediction\",\"dogecoin\",\"dogecoin news\",\"dogecoin price\",\"dogeusd\",\"dogeusdt\"],\"dateCreated\":\"2024-02-07T23:00:39Z\",\"datePublished\":\"2024-02-07T23:00:39Z\",\"dateModified\":\"2024-02-07T23:00:39Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/02\/Dogecoin.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts\/573821"}],"collection":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/comments?post=573821"}],"version-history":[{"count":0,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts\/573821\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/media\/573834"}],"wp:attachment":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/media?parent=573821"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/categories?post=573821"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/tags?post=573821"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}