Dogecoin ($DOGE) Sees 'Largest Spike' in Active Addresses in the Past Six Months, Network 'Experiencing Significant Growth'

The meme-inspired cryptocurrency Dogecoin ($DOGE) has seen its “largest spike in active addresses in the past six months,” as the number of addresses active on its blockchain recently surged to 84,306.

Meme-inspired cryptocurrency Dogecoin ($DOGE) has seen its “largest spike in active addresses in the past six months,” as the number of addresses active on its blockchain recently surged to 84,306.

This is according to data from on-chain analytics firm Santiment, first shared by popular cryptocurrency analyst Ali Martinez, who also noted that the Dogecoin network is “experiencing significant growth.”

Per Martinez, over the past week there's “been a 72% increase in new DOGE addresses,” with the cryptocurrency's network adding over 19,600 addresses in a single day.

#Dogecoin Just Saw Its Largest Spike In Active $DOGE Addresses In The Past Six Months, Reaching 84,306 Active #DOGE Addresses! pic.twitter.com/OEOAufZfWj

As reported late last month, DOGE whales amassed over 1.4 billion tokens in just 48 hours to add more than $140 million worth of the largest meme-inspired cryptocurrency by market capitalization to their wallets.

DOGE recently hit a major milestone after seeing the number of wallet addresses holding it surpass the 90 million mark. It's worth noting that one wallet doesn't necessarily mean one user. Anyone can create multiple DOGE wallets, while some wallets – those of exchanges, for example – may hold DOGE belonging to various users.

Earlier this year, Tesla and Space X CEO Elon Musk acknowledged the potential value in Bitcoin and other digital currencies but admitted having a particular fondness for Dogecoin. “I’ve sort of got a soft spot for Dogecoin because I like dogs and memes,” he explained.

Featured image via Unsplash.

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