The altcoin market rush is pushing Dogecoin to touch an all-time high. The crypto is standing steady at $0.1204 after experiencing a massive push in its price triggered by the latest Bitcoin bull run.
In a new development, Dogecoin’s Mainnet is notably experiencing a surge in holders. This entails that Dogecoin is becoming attractive to users in terms of investment.
As Doge continues to expand its ecosystem through renewed interest and momentum, the crypto is trading at a new two-year high.
Also Read: Dogecoin (DOGE) Up 50% This Week, Is Its All-Time High in Play?
Dogecoin Mainnet Surge in Holders: What Does That Entail?
The Bitcoin bull run has rejuvenated the cryptocurrency market to a new level. Renewed interest in altcoins suggests the momentum of keen users making the most of this latest rush. Doge in particular is attracting a credible rush of holders, as pointed out by a crypto maverick “CEO” on X.
Per the chart shared by the analyst, Dogecoin can be seen ascending in terms of holders, signifying growing interest and investment by users in the crypto.
Another notable crypto analyst, Yomi on X, shared another update on Doge, sharing a parallel approach by comparing the charts of Doge and BTC.
Yomi noted how the Doge and BTC charts have been projecting what’s known as a macro double bottom. This development entails an asset’s major change in trading analytics from a prior down move.
Additionally, Yomi later shared how this development is poised to assist Doge in ascending high in terms of its value.
Also Read: Dogecoin Forecasted To Surge 250%
Dogecoin Trades at a Two-Year High
The price of doge has skyrocketed nearly 30% in the last 24 hours, trading at $0.12 at press time. The last time Dogecoin was up at $0.12 was nearly two years ago.
Doge’s recent price ascent has largely been correlated with Bitcoin’s latest bull run. The price of BTC touched $63K in the last 24 hours.
Furthermore, social intelligence firm Lunar Crush has noted how Doge’s social dominance score has surged nearly by 600% in the last 24 hours.