leading meme coin dogecoin The network has been providing very active data over the last few days. The network continues to grow, with 890,000 new addresses added to the network in the last few days.
According to IntoTheBlock, more than 890,000 new Dogecoin addresses were created in the last seven days. As new users completed their first transactions, network activity increased and the new adoption rate reached 86%.
IntoTheBlock’s new adoption rate statistic is calculated based on the proportion of new addresses making their first transaction among all active addresses on a given day. Insight into the proportion of total activity generated by newcomers, reflecting the rate of adoption of new users giving.
Over 890,000 new Dogecoin addresses were created in the past 7 days. Activity also spiked, with the new adoption rate reaching as high as 86% as the new users made their first transactions.
🔗https://t.co/sVl5CEGkou pic.twitter.com/0LxATAEGaONEWS CONTINUES BELOW— IntoTheBlock (@intotheblock) February 1, 2024
This indicator provides information about the growth of the network in terms of new user adoption. A higher percentage, as in the case of Dogecoin, could mean a growing network with more new user adoption.
As we reported as Koinfinans.com cryptocurrency analyst Ali observed that there was a dramatic growth in the network, with new addresses increasing by a staggering 100% compared to the previous week. On January 29, a record-breaking 247,240 new DOGE addresses were created, reaching an all-time high.
In particular, the emergence of the DRC-20 token standard last year led to a significant increase in Dogecoin network activity.