DOGE has a strong momentum, defeating its peers in active addresses and whale tradingDOGE is currently not entirely bearish as it outperforms Bitcoin (BTC), Cardano (ADA), and Ethereum (ETH) in selected metrics. According to IntoTheBlock (ITB) data, the daily active address (DAA) of Dogcoin has increased by 10
DOGE has a strong momentum, defeating its peers in active addresses and whale trading
DOGE is currently not entirely bearish as it outperforms Bitcoin (BTC), Cardano (ADA), and Ethereum (ETH) in selected metrics. According to IntoTheBlock (ITB) data, the daily active address (DAA) of Dogcoin has increased by 10.32%. In addition, compared to similar growth rates among Bitcoin, Ethereum, and Cardano, the number of large transactions is also relatively high.
In order to obtain the actual situation, as of the time of writing, a total of 49220 daily active addresses have been marked on Dog Coin. Although Bitcoin has a daily active address count of 923340, its growth rate has dropped to 9.93%. Ethereum performed better than Bitcoin, jumping 5.07% to 466630 addresses. It is worth noting that Ethereum's exchange rate lags behind DOGE. In terms of whale trading indicators, there was almost no change overnight for Caldano, while the trading volume of Dogcoin in the past 7 days exceeded $1.18 billion.
Although the actual monetary value of large transactions recorded by Bitcoin and Ethereum was higher than that of Dog Coin, at $23.39 billion and $2.25 billion, respectively, Meme Coin saw an increase of 3.012% and a decrease of 12.29% and 17.2%, respectively.
The impact on dog coins
In the past few weeks, the dog currency has been at a disadvantage, with only a series of intermittent overall increases. The influence of dog coin can only be maintained by its ranking as the first meme coin in the industry, so it has a first mover advantage. The jump in the currently highlighted indicators proves that certain activities of DOGE are still inherent. Dogcoin changed hands at a price of $0.05884, but maintained its position as the ninth largest cryptocurrency with a market value of $8323214781. This is a crucial growth track as its closest competitor is currently on the brink of losing the top 20.
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