Dogecoin Outperforms ETH and ADA With 10.32% Jump

• Dogecoin outshines Bitcoin, Ethereum, and Cardano with a 10 percent surge in daily active addresses.

• In July, an analyst predicted that Dogecoin would surge by 600 percent to hit $0.5. 

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Dogecoin has fallen by 1.36 percent in the last 24 hours. Comparatively, Cardano (ADA) has declined by 1.6 percent in the same period, Bitcoin (BTC) is up by 0.25 percent and Ethereum (ETH) is down by 1.59 percent.

Interestingly, Dogecoin seems to have taken the lead in some other metrics. According to the IntoTheBlock data, there is a 10 percent surge in the daily active addresses (DDA) on Dogecoin. In actuality, a total of 49,220 daily active addresses were recorded on the Dogecoin network. 

The daily active address of Bitcoin currently stands at 923,340. Interestingly, the growth rate is only 9.9 percent. Ethereum has also witnessed a growth rate of 5 percent to send its DDA to 466,630. This obviously indicates a rising interest in the meme coin.

Another metric indicating the rising performance of Dogecoin is the whale transaction. According to the report, Doge has recorded over $1.18 billion in seven days.

Within the same period, Cardano has made no significant move. In terms of the growth rate, Dogecoin surged by 3 percent compared to the Bitcoin and Ethereum slump by 12.29 percent and 17.2 percent respectively. In actual value, Bitcoin recorded a large transaction of $23.39 billion with Ethereum having $2.25 billion. 

More Price Analysis on Dogecoin, Bitcoin and Ethereum

The Dogecoin network activity has generally been positive in the past couple of years. In August last year, its number of unique active addresses was reported to have increased by 97 percent in two months. Its lowest peak reportedly occurred on 21 May 2022, when it hit below 50k. Its highest peak also occurred on 28 July when it reached over 98,000. In June this year, Dogecoin had a massive boost in its adoption as it surpassed 5 million wallet addresses. 

Dogecoin is currently the 9th largest crypto by market cap with a bearish market sentiment. The asset is trading at $0.058135 and has surged by 0.34 percent in the last seven days but has declined by 1.36 percent in the last 24 hours. In July, crypto analyst Altcoin Sherpa predicted that the asset could surge by 600 percent to hit $0.5. 

$DOGE: A high probability/low IQ play is that you can just buy DOGE now and go into a coma and then wait for it to go to .30-.50 or even higher. It’s going to happen eventually. Downsides are: – opportunity cost – this could take a LONG time – energy might go into SHIB or PEPE.

This year in September, Bitcoin wallets crossed 48 million for the first time. It was also reported that users had created 5.61 million new Bitcoin wallet addresses. Bitcoin currently has a bullish market sentiment with a trading price of $28,465.69. In the last seven days, Bitcoin has surged by 6 percent and has also made a marginal surge of 0.25 percent in the last 24 hours. 

Ethereum is also up by 0.4 percent in the last seven days, trading at $1,552.60. 

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