Will Dogecoin Hit $1? Price Prediction as Wallet Addresses Reach 90 Million
The price of Dogecoin has risen by 2% today, reaching $0.1257 as the crypto market enjoys a 3% lift in the past 24 hours.
DOGE is now up by 15% in the past week, with this gain coming as the popular meme token passes 90 million wallet addresses, according to data from IntoTheBlock.
This is a strong signal of the coin’s enduring popularity, and while it is actually down by 5.5% in the last 30 days, it holds onto an 80% increase in the past year.
And with the cryptocurrency market looking like it could regain strength as we enter the second half of the year, the Dogecoin price could see some strong appreciation in the coming weeks and months.
DOGE has had a good couple of days, yet now its chart gives the impression that it may be due for a minor and brief slip.
Its relative strength index (purple) has dropped from 80 yesterday to just over 60 today, and may fall further as DOGE’s price takes a dive.
It’s also entirely arguable that the coin’s 30-day moving average (orange) is due to begin declining towards the 200-day average (blue), given that it has been well above the latter for a few days now.
Dogecoin’s trading volume is also starting to tail off a little, from $1.1 billion yesterday to $850 million today.
This is still high relative to recent volumes, signalling that interest in DOGE remains healthy.
This would indeed be the conclusion to take from the latest Dogecoin wallet address data, which shows that the meme token now has 90 million addresses.
However, some qualification is in order, since this figure covers all Dogecoin addresses created to date, including addresses with zero DOGE.
Taking only addresses with a balance, there are currently 6.51 million ‘active’ wallets, and while this is a smaller number, it’s the
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