Dogecoin Community Reaches Major Milestone

https://www.cryptologi.st/news/dogecoin-community-reaches-major-milestone

The official Twitter account of meme cryptocurrency Dogecoin has surpassed three million followers, and as Dogecoin popularity continues to expand, its community is overflowing into the Binance Smart Chain blockchain.

How Has Dogecoin Community Been Doing Up To Now?

Dogecoin is the first and most popular meme coin globally and the second-largest cryptocurrency on the popular social media platform after Bitcoin. It rises continuously and hits milestones after milestones. Dogecoin’s token price has climbed 172% over the past year and is now up roughly 4% over the last seven days of trading. Its followers on Twitter have surpassed 3 million users, and its Reddit community also boasts 2.3 million subscribers. It was the most viewed cryptocurrency-related subreddit of 2021.

Is Dogecoin Still Worth It?

The data indicate that the meme coin consists of 4.8 million addresses, 4.5 million of which contain a balance of more than 0.01 DOGE. This meme coin is one of the 11th biggest cryptocurrency by valuation and has a market cap of roughly $19.7 billion. According to data from WhaleStats, Dogecoin ranks fourth in most used smart contracts on the Ethereum blockchain, above ETH and with 492,055 Dogecoin holders on the Binance Smart Chain platform holding over 325 million Dogecoin tokens, implying that DOGE is a popular choice among whales. Furthermore, The top 1000 BNB wallets are holding 323,502,178 Dogecoins.

Is Dogecoin Built To Withstand The Storm?

Although Dogecoin has faced some competition lately, just as Bitcoin has its competitors and variants, it could retain its dominant position among other cryptocurrencies. Tesla CEO, Elon Musk, has decided to support the DOGE as something of a pet project , and investors are hoping that Musk will make more moves to push the meme-powered token further into the mainstream. Also, the co-founder Billy Markus urges the community to shift focus from price to creating value in Dogecoin. Dogecoin continues to be of significant interest to large investors, such as Elon Musk and Mark Cuban, even with potential volatility.

Bottom Line

Dogecoin nears 500,000 holders while DOGE price remains stagnant. On the one hand, Dogecoin is gaining interest among large investors, such as Elon Musk and Mark Cuban. On the other hand, Dogecoin, like other cryptocurrencies, may face continued volatility. The market of cryptocurrencies and the related news are facing non-stop changes. At Cryptologi.st, we strive to cover all the latest news to keep you aware of the ups and downs of the market.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
cryptologi-st

cryptologi-st

Unique analysis on top crypto projects. Save countless hours trawling through the internet and make confident decisions.