From Nasdaq:

Dogecoin has seen a 23% drop in value since Dec. 9 but it has been witnessing unprecedented growth in the number of wallets. In just two weeks, 413.8K new wallets, primarily holding 0.001-1 Dogecoins, have been added, marking the fastest growth in the network’s history.

Despite a downturn in the cryptocurrency market, Dogecoin has managed to outperform its memecoin rivals, with a 46.94% hold of profit. Additionally, it has reported a smaller monthly loss compared to its competitors like Shiba Inu, Pepe, and Floki.

Cryptocurrency analyst Ali Martinez has noted that Dogecoin’s Bollinger Bands are at their tightest squeeze since October 2023, indicating an imminent spike in price volatility. Bollinger Bands measure volatility and offer insight into a cryptocurrency’s volatility compared to historical norms.



Read more: Never Mind The DOGE Dip: Meme Coin’s Wallets Surge At Fastest Rate In Network’s Decade-Long History, Analytics Platform Reveals