Dogecoin is seeing a substantial uptick in its network activity. Over the past week, over 890,000 new Dogecoin addresses have been created, along with a notable increase in activity, with an adoption rate of 86% as these new users make their first transactions.
Dogecoin is seeing a substantial uptick in its network activity. Over the past week, over 890,000 new Dogecoin addresses have been created, along with a notable increase in activity, with an adoption rate of 86% as these new users make their first transactions.
This resurgence could be attributed to two major developments: the launch of the iconic Doom game on the Dogecoin blockchain and rumors about Dogecoin’s possible integration with X payment platforms.
The transfer from Doom to Dogecoin was executed through a protocol that allows for the storage of a large amount of data on the blockchain. Doom has permanently enrolled in the Dogecoin network, leveraging the Dogecoin blockchain exclusively for game data recovery. While this event generated hype and could be seen as a fun marketing stunt, it worked well and all necessary game data was successfully recovered.
However, a more important driver of this renewed interest likely lies in Dogecoin’s potential application on X payment platforms. Integration into broader payment systems could mark a turning point for Dogecoin’s utility, moving from a meme to a viable microtransaction tool.
Analyzing the Dogecoin price chart, the coin is showing potential signs of a rebound. Dogecoin is currently flirting with a support level around $0.078 which, if held, could serve as a launching pad for an upward move. The next important price target lies near the $0.088 resistance level.
A break above this could pave the way for Dogecoin to challenge the $0.09 mark and if the bullish momentum continues, reaching the psychological barrier of $0.1 is not impossible.
