Dogecoin, the OG memecoin’s network, is defying market odds and blazing its trail to unprecedented heights. Despite a recent 23% dip in value since December 9th, DOGE’s non-zero wallets are booming, marking the fastest growth in the coin’s decade-long history. Santiment’s analytics reveal a jaw-dropping addition of approximately 414,000 new wallets, mostly holding 0.001-1 DOGE, in just two weeks, culminating in a 7.2% surge since January 22nd.
But that’s not all. Dogecoin is experiencing an adoption explosion, with over 890,000 new DOGE addresses sprouting up in the past seven days. The adoption rate has skyrocketed to a mind-boggling 86% as freshly initiated users eagerly plunge into their first transactions, as reported by analysts at IntoTheBlock. The catalyst behind this surge is credited to the revived interest in Doginals, fueled by the release of Doom on the Dogecoin chain and the buzz surrounding Xpayments, luring new enthusiasts into the DOGE community.
As if that’s not enough to fuel the DOGE frenzy, SpaceX has thrown its weight behind the meme coin by endorsing it as payment for the rescheduled DOGE-1 Mission to the Moon. Geometric Energy Corporation [GEC] CEO Samuel Reid spilled the cosmic beans, revealing that GEC paid SpaceX in DOGE to secure a new launch date following the mission’s delay.
Dogecoin’s Market Cap Battle With LINK
Initially set for liftoff in 2022 on the SpaceX Falcon 9 rocket, the DOGE-1 mission hit a snag due to the satellite’s unpreparedness for the Intuitive Machines IM-1 launch. Despite the setback, Reid assured the DOGE community that the revised deal includes a rebooking fee paid in Dogecoin, and the DOGE-1 satellite is now on standby for a mission, potentially after IM-1. The timing hinges on the satellite’s journey from Exobotics in the UK to Maverick Space in the U.S.
Adding to the intrigue, DOGE finds itself entangled in a market cap showdown with Chainlink’s LINK token, which has recently outshone the broader market downturn. LINK briefly stole the limelight, dethroning DOGE, but the meme coin swiftly reclaimed its top-10 status. The battle rages on, keeping the community on the edge, even though the gap between the two assets remains tantalizingly narrow.
