Dogecoin Gains Over 29,000 New Wallets Since January 1
Dogecoin (DOGE) Update
- Dogecoin has added over 29,000 new wallets since January 1, 2025.
- Ethereum saw a notable increase of +645K wallets, XRP gained +58K, and Bitcoin rose by +102K. Cardano increased by +2.8K while Chainlink lost 3.3K wallets.
- Overall trading volumes in the crypto market have decreased by an average of 13% since mid-December 2024, with Ethereum experiencing a decline of 17%.
- Meme coins like Dogecoin are particularly affected by reduced speculative trades.
- Daily trading volumes on major exchanges, such as Binance and Coinbase, dropped by 15% and 12%, attributed to seasonal factors and regulatory uncertainties.
- Dogecoin's MVRV is at -8.89%, indicating potential buying opportunities amidst negative returns for active traders over the past 30 days.
- The cryptocurrency market is influenced by regulatory changes and institutional strategies moving forward.
- Technical analysis shows DOGE testing critical Fibonacci levels, with a support level around $0.314.
