DOGECOIN - DOGE Network EXPLODES With 890.000 New ADDRESSES IN A STUNNING INCREASE

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Dogecoin (DOGE) Network Explodes with 890,000 New Addresses in Impressive Surge

The dog-themed cryptocurrency Dogecoin (DOGE) continues to sustain the growth of its network, with 890,000 new addresses added in a matter of days.

According to IntoTheBlock, more than 890,000 new Dogecoin addresses have been created in the last seven days. Network activity also increased, with the new adoption rate reaching 86% as new users completed their first transactions.

IntoTheBlocks new adoption rate statistic calculates the proportion of new addresses making their first transaction among all active addresses on a given day.

It provides information about the proportion of total activity accounted for by newcomers, reflecting the adoption rate of new users.

This indicator provides information about the networks growth in terms of new user adoption. A higher percentage, as in the case of Dogecoin, could imply a growing network with greater adoption of new users.

Earlier this week, crypto analyst Ali noted that the Dogecoin network was experiencing an impressive growth boom, with new addresses jumping an impressive 1,100% from the previous week.

On January 29, a record 247,240 new DOGE addresses were created, setting an all-time high.