Dogecoin Adoption Surges as Active Addresses, Transactions Hit Multi-Month Highs Despite Concentration Concerns
• Number of crypto addresses holding DOGE has topped 5 million for the first time
• Active addresses on DOGE network more than doubled to 168,000, highest since March 2022
• Confirmed transactions on Dogecoin blockchain jumped to highest level since June, up 1,000% in past 10 days
• Ownership concentration remains an issue - fewer than 5,000 addresses control over 80% of DOGE supply
• DOGE market cap rose 14% to almost $11 billion this month as greater adoption often increases market value