According to CryptoPotato, Dogecoin's price has faced significant resistance at the $0.08 level, even though the network has experienced growth across various metrics. The value of the meme coin has declined by 23% since its local peak on December 9th. However, the number of wallets holding more than 0 DOGE is growing at a record pace of 7.3%, the fastest in the network's decade-long history. On-chain intelligence platform Santiment reports that nearly 414,000 new wallets, predominantly containing 0.001-1 DOGE, have been added over the past two weeks alone.
This growth comes a week after the Dogecoin network recorded the creation of 247,240 new DOGE addresses on January 29th, establishing a new peak. The steady growth in network expansion could hint at favorable outcomes for DOGE's price movements in the future, despite the asset struggling near $0.078. Dogecoin has also surpassed several other meme cryptocurrencies in terms of performance, as indicated by Intotheblock's analysis of the number of holders in profit. Dogecoin leads with 46.94%, while SHIB stands at 27.11%, PEPE at 24.81%, and FLOKI at 16.11%. Additionally, DOGE has the highest number of holders with 5,853,959 compared to SHIB's 1,291,903, PEPE's 152,195, and FLOKI's 73,038.
SpaceX has agreed to accept Dogecoin (DOGE) as payment for rescheduling the highly anticipated DOGE-1 Mission to the Moon. Samuel Reid, CEO of Geometric Energy Corporation (GEC), revealed the transaction, explaining that GEC used DOGE to rebook the mission after its initial schedule was delayed. Although Dogecoin often experiences a surge in value with payment-related news involving Elon Musk's enterprises like X, Tesla, or SpaceX, this recent development had no noticeable effect. This lack of impact might suggest that the excitement around potential crypto adoption by these companies has waned following previous disappointments. Meanwhile, DOGE has emerged as a significant player in the Indian market, especially among individuals aged 26-35. Recent insights from industry specialists indicate that within this age group, DOGE has outpaced Bitcoin in terms of investment appeal. This specific demographic constitutes 40% of India's overall population of 19 million cryptocurrency investors.
