Investors Bullish on DOGE
Despite recent underperformance, Dogecoin is showing signs of strength in certain metrics. According to Santiment, the number of non-empty DOGE wallets has surged by 13.8% in the past three months. This increase coincided with a spike in Dogecoin’s value from $0.08 in February to over $0.20 a month later, currently resting around $0.14.
Comparatively, Bitcoin saw a 2.6% uptick in non-empty wallets over the same period, with over 53.8 million addresses. On the other hand, Cardano experienced a slight decrease of 0.01%, totaling around 53 million addresses.
Analysts Optimistic About DOGE’s Future
- Some analysts believe that Dogecoin has entered a consolidation phase and could potentially reach the $1 mark based on past performance.
- JAVON MARKS and Mikybull Crypto are also bullish on DOGE, with both experts highlighting the token’s impressive price growth since the beginning of the year.
- JAVON MARKS predicts a significant uptrend in DOGE’s price, potentially reaching a target of $0.6553.
Potential for DOGE’s Price Growth
Analysts in the crypto space are optimistic about Dogecoin’s future price trajectory, with some predicting significant growth potential for the meme coin:
JAVON MARKS suggested that DOGE could hit the $1 milestone if it follows a similar pattern to its historical performance. This optimistic outlook is shared by Mikybull Crypto, who sees DOGE’s correction as a healthy pullback amidst strong price momentum earlier in the year.
“With prices holding strong and any pullbacks potentially fueling a 315% rally towards the $0.6553 target,” the analyst envisioned a bullish scenario for DOGE.
Market Comparison: DOGE, BTC, and ADA
- Dogecoin: Non-empty wallets surged by 13.8% in the last three months, coinciding with a spike in price
- Bitcoin: Non-empty wallets increased by 2.6% to over 53.8 million addresses
- Cardano: Experienced a slight decrease of 0.01% in non-empty wallets, totaling around 53 million addresses