2024

Dogecoin

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According to on-chain data analytics IntoTheBlock, <a href="https://u.today/dogecoin-sees-sudden-230-volume-spike-as-doge-price-jumps" rel="noopener noreferrer nofollow">Dogecoin</a> recently experienced a remarkable surge in network activity, adding a staggering 28,000 new addresses in a single day. Along with the increased network activity, Dogecoin's price has skyrocketed, jumping by 13% within 24 hours.
In a tweet, <a href="https://twitter.com/intotheblock/status/1786403351812329701" rel="noopener noreferrer nofollow">IntoTheBlock</a> reported that Dogecoin activity&nbsp;was spiking&nbsp;with&nbsp;the number of new Dogecoin addresses increasing sharply this week. It said that&nbsp;28,000 addresses were created&nbsp;on May 2 alone, a 102% increase from the monthly low set on Monday.
<blockquote>
 Dogecoin activity is spiking!The number of new Dogecoin addresses has increased sharply this week. Over 28k new addresses were created yesterday, a 102% increase from the monthly low set on Monday <a href="https://t.co/SlMLxvwWAo" rel="noopener noreferrer nofollow">pic.twitter.com/SlMLxvwWAo</a>— IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1786403351812329701?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 3, 2024</a>
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On-chain data also highlights the growth in non-empty addresses for Dogecoin. Santiment, an on-chain analytics startup, revealed a 27% increase in Dogecoin non-empty wallets over the last six months, totaling 6.6 million&nbsp;wallets.
This spike in non-empty wallets could indicate renewed interest and engagement in the <a href="https://u.today/dogecoin-community-member-issues-vital-warning-whats-happening" rel="noopener noreferrer nofollow">Dogecoin community</a>.
Dogecoin's price has risen by 13% in the previous 24 hours&nbsp;as a result of&nbsp;increasing demand and favorable sentiment towards the cryptocurrency.&nbsp;This price surge demonstrates&nbsp;the impact of network growth on the value of Dogecoin, as increased adoption&nbsp;is frequently correlated&nbsp;with upward price momentum.
The Dogecoin price increase coincides with the general crypto market comeback following the release of weaker-than-expected job data. Cryptocurrencies rebounded on Friday, headed by Bitcoin's (BTC) rise, raising expectations that the worst of the fall may be over.
The U.S. economy added 175,000 jobs in April, falling short of the expert estimate of 245,000 and the previous month's 315,000 increase. The latest Nonfarm Payrolls data also showed that the jobless rate increased to 3.9% from 3.8% in March.
<a href="https://u.today/dogecoin-doge-ticks-past-massive-5-billion-in-large-transactions-as-price-dips" rel="noopener noreferrer nofollow">Dogecoin</a> posted a sharp rise&nbsp;consequently,&nbsp;extending its recovery from its May 1 lows of $0.1198. At the time of writing, Dogecoin still sustained gains, up 13% in the last 24 hours to $0.15. If today closes in the green, Dogecoin will mark its third consecutive day of gains.

Dogecoin (DOGE) Price Skyrockets 13% Amid Epic Network Activity Surge

U_Today

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