DOGE has almost beaten Bitcoin and Ethereum, but not quite. Bitcoin and Toncoin have reached new highs.
Toncoin (TON) wallets have surged to a 16,800 high. However, this network has been growing at a much faster pace than BTC.
Dogecoin follows this crypto with 27% growth and the 6.6 million wallet milestone achieved by now. Bitcoin and Ethereum have printed modest increases of 10% and 11%, however, their number of wallets has spiked to 53.9 million and 120.7 million, respectively.
XRP and ADA are at the bottom of the list here, below Bitcoin. XRP nonempty wallets have increased by 7% (5.2 million in total), and ADA’s growth constituted 0%. The Cardano chain remains at the 4.5 million nonzero wallet level.
Martinez explained that the correction Dogecoin is currently undergoing is normal for this meme coin and has been observed before DOGE broke into a bull run in the past.
He referred to 2017, when DOGE broke out of a descending triangle pattern. In that year, the meme coin dumped 40% before it started on a massive 982% bull run. A similar scenario played out in 2021; a retracement by 56% occurred before a 12,197% surge and the all-time high. Currently, Dogecoin has again broken out of a similar pattern and is expected to ignite a bull run.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
