Dogecoin Price Could See Parabolic Growth As Day by day Recent Addresses On The Network Balloons

The Dogecoin price could also be getting ready to a parabolic surge, as recent data shows a major increase within the number of latest day by day addresses on the Dogecoin network. With the US Presidential election results set to be released soon, meme coins like Dogecoin are seeing a wave of interest from investors, recording price gains that suggest a possible for a major surge within the post-election period.

Dramatic Increase In Recent Addresses

In an X (formerly Twitter) post on November 4, crypto analyst Ali Martinez unveiled latest growth within the Dogecoin network, emphasizing that over 35,000 latest DOGE addresses have been created day by day. This significant increase indicates a considerable influx of latest Dogecoin users or investors joining the meme coin’s network.

A surge in latest day by day addresses reflects the growing adoption and renewed interest in Dogecoin. Martinez has revealed that despite the recent dip within the Dogecoin price this week, the meme coin appears to still be on investors’ top wanted crypto-list because the DOGE network continues to expand with fresh addresses.

Source: IntoTheblock

As a rule, a surge in latest addresses correlates with increased trading volume. As more users join the Dogecoin community, there can be a notable increase in buying and selling, ultimately enhancing the token’s liquidity and resulting in a possible upward pressure on prices. As demand for meme coins grows, this increase in latest addresses could also trigger a parabolic growth in Dogecoin prices.

Amidst the recent surge in Dogecoin addresses, Martinez has unveiled an optimistic forecast for the primary meme coin. When asked by a crypto community member whether Dogecoin could ever experience a 35,000% to $58, Martinez responded with a more measured goal, predicting that the Dogecoin price is more prone to jump to $1.8.

Notably, a 35,000% surge may appear overly ambitious, provided that the Dogecoin price has only ever hit a peak of $0.73 and has consistently traded below $1 since its inception. Despite this lofty forecast, the Dogecoin price is up by 11.84% within the last 24 hours and 54.39% over the past month, in accordance with CoinMarketCap.

Analyst Sees Dogecoin Price Surging To Recent ATH

Crypto analyst Javon Marks has made a bullish prediction for the Dogecoin price, forecasting a potential rise to latest all-time highs. Marks revealed that despite Dogecoin’s recent market pullback, the meme coin continues to be well-positioned to experience an impressive performance on this market cycle.

The analyst believes Dogecoin could rise to higher ATHs, potentially experiencing a 345% surge beyond the $0.739 mark. Adding to this sentiment, one other crypto expert identified as ‘Satoshi Flipper’ on X has predicted that Dogecoin could hit the highly coveted $1 mark soon.

The analyst suggests that a Donald Trump victory within the US Presidential elections and the launch of Tesla CEO Elon Musk’s D.O.G.E proposal could catalyze a major price surge for Dogecoin.