Despite a 23% drop in price, Dogecoin network activity has increased, with a record number of new wallets created

According to CryptoPotato, despite Dogecoin's price encountering significant resistance around $0.08, its network activity continues to grow. Based on the latest analysis by on-chain intelligence platform Santiment, nearly 414,000 new wallets have been added in the past two weeks, most of which contain 0.001-1 DOGE.

 

Previously, the Dogecoin network set a record with 247,000 new DOGE addresses created on January 29th. In addition, Dogecoin has surpassed other Meme coins in terms of profitable holders; with Dogecoin at 46.94%, SHIB at 27.11%, PEPE at 24.81%, and FLOKI at 16.11%. SpaceX accepts DOGE payments and has rescheduled the DOGE-1 mission to the moon. However, this news did not significantly affect Dogecoin's price. Meanwhile, DOGE is particularly attractive in the Indian market among people aged between 26-35 years old surpassing Bitcoin.