WallitIQ (WLTQ) has emerged as a viable alternative for crypto investors while Dogecoin's price remains stagnant.
As the year progresses, frustrations are mounting among Dogecoin (DOGE) holders due to the meme coin’s poor adoption rates. With the number of holders and active wallets decreasing sharply since October 8, there’s been a net loss of over 106,000 non-empty wallets.
This decline in adoption is evident in the減少ing number of active wallets, which hit a six-month low in 2024. The last time active addresses were this low was in April, when the Dogecoin price was around $0.12. However, despite the recent uptick in activity, the number of active addresses is still significantly lower than it was at the beginning of the year.
The lack of interest in Dogecoin is also reflected in the coin’s trading volumes, which have fallen sharply over the past few months. At the beginning of 2024, Dogecoin was trading over $0.24, but by December, the coin’s value had dropped to around $0.09.
This decline in trading activity has raised concerns among some investors, who believe that the meme coin is no longer viable. However, other investors remain optimistic about Dogecoin’s future, pointing to the coin’s strong community and the fact that it is still widely accepted by merchants.
Only time will tell what the future holds for Dogecoin, but for now, the coin’s adoption rates and trading volumes are both pointing to more drops in the meme coin’s price.
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