Dogecoin (DOGE) is on track to surpass the $0.1 price mark after experiencing a record-setting surge in new addresses. On January 29, the Dogecoin network added a staggering 247,240 new addresses, marking a 1,100% increase in just one week. This surge in network expansion has led crypto trading expert Ali Martinez to predict a positive impact on DOGE prices. Currently trading around $0.08, Dogecoin’s sustained uptrend in new addresses could propel it to reach the coveted $0.1 price mark.
In addition to its price gains, Dogecoin has also made some individuals wealthy, with 718 addresses holding over $1 million worth of DOGE by the end of 2023. Notably, 107 of these addresses possess over $10 million worth of the asset. Furthermore, Dogecoin remains a popular choice for accepting payments, as NBA teams like the Dallas Mavericks continue to embrace it.
Currently priced at $0.081, Dogecoin has seen a slight uptick of 0.93% in the past 24 hours and a notable 5.55% increase over the last week. However, the monthly chart shows a decrease of 10.43%. With its expanding network, there is speculation that Dogecoin could potentially surpass Avalanche (AVAX) to become the ninth-largest cryptocurrency by market capitalization. The crypto community is closely watching these developments as Dogecoin navigates the volatile market landscape.
Meanwhile, attention is also turning to Dogecoin competitor Shiba Inu (SHIB). The TD Sequential indicator, known for its accuracy in predicting price movements, is signaling a buy for SHIB. This suggests that SHIB may be on the brink of an upward trend. Additionally, Shiba Inu’s impressive burn rate can contribute to its price gains. Market enthusiasts are advised to monitor these developments closely, as Shiba Inu could potentially climb to $0.010 or even reach as high as $0.011. Traders and investors are eagerly anticipating significant price movements in the SHIB market.