Dogecoin, the meme-inspired digital asset, has witnessed a remarkable increase in the number of its holders.
Despite experiencing a 27% decline in market value since December 11, 2023, an analysis by crypto analytics firm Santiment reveals a surge in Dogecoin wallets. This unprecedented expansion has set a new record for the Dogecoin network.
Dogecoin Network Grows as Speculation Mounts
In the last two weeks, the Dogecoin network welcomed an astonishing 413,800 new wallets, mostly holding 0.001 to 1 Dogecoin. This rapid surge in new holders represents the quickest growth rate in the network’s decade-long history, sparking curiosity and speculation about Dogecoin’s future.
Geometric Energy Corporation (GEC) CEO Samuel Reid shared insights into the transaction. After its initial postponement, GEC compensated SpaceX in Dogecoin to secure a new slot for the DOGE-1 Mission. Initially slated for a 2022 launch aboard the SpaceX Falcon 9 rocket, the mission faced delays due to the satellite’s unpreparedness for the Intuitive Machines IM-1 launch.
It is worth noting that the repeated postponements have led to a growing sense of frustration among community members. Cryptocurrency educator Randi Hipper epitomized this sentiment, expressing her skepticism about the project’s timeline.
“Does this mean another pushback, or is the launch still scheduled for February?” Hipper questioned.