“Massive Amount of DOGE is Moving” – Santiment Analysis Shows Why

Alts Leading Recovery Rally

After the Binance news earlier this week and the subsequent market crash, altcoins like Solana (SOL), Cardano (ADA) and the ‘Godfather’ of all meme coins Dogecoin (DOGE) are leading the recovery rally ahead of Bitcoin (BTC). Dogecoin is up 4.3% in the past 24 hours and Santiment seems to have an explanation for this.

Last month, 121 new wallets were created, each containing over 1 million Dogecoins, indicating a resurgence in interest in meme coin-focused digital currencies. Santiment analysts also observed a significant spike in activity among previously inactive DOGE wallets, reaching its highest level since June, which they interpret as an indicator of a potential shift in its price trajectory.

Furthermore, data shows that the count of daily active Dogecoin addresses has risen by 87% since the start of November.

To The Moon – Literally

Earlier this month, the Dogecoin X account announced exciting news: Astrobotic plans to send a physical Dogecoin to the moon. The coin, part of the DHL Moonbox payload, is scheduled for launch aboard ULA’s Vulcan Centaur Rocket on December 23, 2023. This initiative is the result of a Dogecoin community fundraising campaign that started in 2015, with the goal of sending Dogecoin to the moon.

Known for their lunar landers and rovers, Astrobotic plays a significant role in lunar missions for various clients and contributes greatly to the United States’ lunar exploration efforts.

The launch of the DHL Moonbox carrying Dogecoin symbolises the power of community effort and crowdfunding in the crypto world.

Meanwhile, the price of DOGE has performed well over the past few weeks. Taking the recent market correction into account, DOGE is up 23.8% from this time last month, as data from CoinMarketCap indicates.