Along with increased network activity, Dogecoin's price has skyrocketed
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On-chain data also highlights the growth in non-empty addresses for Dogecoin. Santiment, an on-chain analytics startup, revealed a 27% increase in Dogecoin non-empty wallets over the last six months, totaling 6.6 million wallets.Dogecoin's price has risen by 13% in the previous 24 hours as a result of increasing demand and favorable sentiment towards the cryptocurrency.
The Dogecoin price increase coincides with the general crypto market comeback following the release of weaker-than-expected job data. Cryptocurrencies rebounded on Friday, headed by Bitcoin's rise, raising expectations that the worst of the fall may be over. The U.S. economy added 175,000 jobs in April, falling short of the expert estimate of 245,000 and the previous month's 315,000 increase. The latest Nonfarm Payrolls data also showed that the jobless rate increased to 3.9% from 3.8% in March.posted a sharp rise consequently, extending its recovery from its May 1 lows of $0.1198. At the time of writing, Dogecoin still sustained gains, up 13% in the last 24 hours to $0.15.
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