Dogecoin Adds 35K New Addresses Daily Despite Price Slide

Dogecoin may have slipped in price, but interest in this beloved meme coin remains strong. The network keeps expanding, adding over 35,000 new addresses daily, signaling a steady rise in new users. 

While other major cryptocurrencies struggle with volatility, Dogecoin shows remarkable resilience. With the U.S. presidential election around the corner, investors wonder if a Trump victory could further fuel Dogecoin’s growth.

Strong Technical Patterns Amid Market Dips

Dogecoin held steady on Monday, even outperforming other large coins. Prices rose to $0.1570, up by 10% from Sunday’s low. Analysts spot several bullish signs, including the cup and handle pattern—a signal of potential upward momentum. 

Recent price movements also created a “golden cross,” as the 50-day and 200-day Exponential Moving Averages crossed. Adding to the optimism, Dogecoin pushed past the 50% Fibonacci Retracement level, strengthening the bullish outlook.

Trump has shown a favorable stance toward cryptocurrency, and his close ties with Elon Musk only add to the excitement. Musk, who leads Tesla, accepts Dogecoin for some products, and his endorsement has helped fuel the coin’s popularity. 

Trump’s Win Could Ignite Dogecoin’s Growth

Trump’s supporters believe his policies could give Dogecoin a strong push. Trump has pledged to make Musk the head of Government Efficiency, aiming to slash federal costs by $2 trillion. 

Musk’s involvement could steer favorable crypto policies, boosting Dogecoin’s appeal as a reliable digital asset. Yet, uncertainty still looms. If Kamala Harris wins, some analysts see Dogecoin dropping to $0.12 before recovering. 

Despite the uncertainties, Dogecoin continues to thrive. The network grows daily, unshaken by price dips. For now, Dogecoin’s loyal community remains as strong as ever, whether prices climb or pull back,