Dogecoin Melonjak, Pengguna Aktif Naik 32 Persen dalam Sehari
Release: 2024/08/18 13:29 Reading: 397
Dogecoin, memecoin popular, has seen a substantial surge in its daily active users, with a 32 percent increase reported in the past 24 hours. This network activity upswing has caught the attention of market observers and enthusiasts, sparking discussions on its potential impact on the cryptocurrency's price.
Dogecoin Active Users Skyrocket
According to Benzinga, recent data from blockchain analytics firm IntoTheBlock highlighted that the number of daily active addresses on the Dogecoin network, referring to unique addresses making at least one on-chain transaction in the past day, has reached 55,444. This metric is often used as a key indicator of network activity, providing insights into the overall usage and demand for a cryptocurrency.
An increase in the count of daily active addresses is typically regarded as a positive sign, suggesting growing engagement and participation in the Dogecoin network. In the cryptocurrency realm, where network activity often correlates with price action, such increases can be early indicators of future price movements.
DOGE Price Recovery
In recent days, the price of DOGE has shown signs of recovery after a brief downturn. After three consecutive days of declines, Dogecoin's price has rebounded, posting a 2.10 percent gain in the past 24 hours, trading at $0.101 at the time of writing. This price recovery has further fueled speculation about a possible connection between the spike in daily active addresses and Dogecoin's market performance.
Market analysts are closely monitoring this correlation, as a strong relationship between the number of active addresses and price movements can offer valuable insights for traders and investors. If DOGE's current price recovery continues, buyers are likely to target a push above the daily Simple Moving Average (SMA) of $0.115. Breaching this key resistance level could trigger a new uptrend, further boosting the cryptocurrency's value.
Cautious Optimism
However, while the increase in daily active users is an encouraging development, it is crucial to approach this trend with caution. The cryptocurrency market is known for its high volatility, and various factors can influence price movements. While the surge in network activity may indicate growing interest and demand, it does not guarantee sustained price appreciation.
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