Dogecoin (DOGE) has seen a 13.8% increase in empty wallets over the past three months, accompanied by a temporary increase in its price. Analysts predict a significant potential upside for DOGE, with a target of up to $1, based on current trends and historical performance.

Despite recent poor performance, several metrics related to Dogecoin have seen a solid recovery. Cryptocurrency market intelligence platform Santiment revealed that the number of empty DOGE wallets has increased by 13.8% over the past three months.

A significant increase in this number was recorded at the end of February, coinciding with the time when Dogecoin prices began to increase. Currently, DOGE is priced at around $0.14.

Additionally, Santiment also revealed how Bitcoin and Cardano work in this space. The number of empty BTC wallets exceeded 53.8 million, an increase of 2.6% in 90 days, while ADA recorded a decrease of 0.01% in the same period with about 53 million addresses.

In the cryptocurrency space, many analysts are optimistic that Dogecoin valuation will increase sharply in the near future.