Dogecoin holders' interest surges above 6.9 million to set a new record, and the price is expected to continue to rise?

As interest in the meme coin continues to soar, Dogecoin soars to a new record in a noteworthy metric. This time, the number of holders of cryptocurrencies reached an all-time high, indicating the rapid adoption of cryptocurrency investors. March brought good news for Dogecoin. Not only has the price of meme risen sharply this month, but its holder base has also grown significantly. This month, the total number of DOGE holders surpassed 6.9 million for the first time, setting a new record. However, as the numbers continue to rise, the meme coin is far from complete. #山寨季开始#

According to the website, as of March 28, the number of Dogecoin holders on the mainnet has reached 6,932,763. Considering the rate of growth in the number of holders last month, the number could exceed 7 million by March.

This new record is a testament to DOGE's adoption over the past few months. Despite the mushrooming of competitors such as BONK, PEPE, and WIF, and the continued struggle of its fiercest rival, Shiba Inu, Dogecoin dominates as the leading meme coin.

From the perspective of this growth, the number of DOGE holders at the beginning of 2024 will be around 6.06 million. Three months later, that number was over 6.9 million, meaning the number of holders had grown by more than 14% during that period.

In addition to the rapid growth of Dogecoin holders, other metrics have also risen significantly, such as the number of daily transactions, whale transactions, and age at spending. These indicate that the bullish sentiment of investors has risen, and prices are expected to continue to rise.

The age of consumption is especially important here, as it indicates that more investors are choosing to hold DOGE tokens for the long term. This has greatly reduced the selling pressure on the meme coin, allowing it to bounce back while most crypto markets are still suppressed.

Another indicator that shows significant growth is the daily trading volume, which increased by almost 50% on the last day. This rally indicates greater interest in Dogecoin trading, and with its price soaring on the last day, it suggests that most of the trading volume is skewed towards buying rather than selling.

This surge in interest is currently reflected in the DOGE price, which rose nearly 10% on the last day. However, the bears continued to hold resistance near the $0.2 level, forcing the meme coin to retreat.

(Source: Scott Matherson)