With the growth of optimism in the cryptocurrency sector, the price of Dogecoin (DOGE) is recovering, and at the same time, the number of new addresses in the network of this famous dog-related meme coin is significantly increasing.

Over the past week, the Dogecoin network has noticed an increase of 1100%, and on January 29, a record addition of 247,240 new wallets was recorded, according to cryptotrading expert Ali Martinez.

Ali Martinez expressed the opinion that "the constant expansion of the network in the near future may positively affect the prices of DOGE," which means that the 10th crypto asset in terms of market capitalization may possibly overcome the $0.1 mark.

At the moment, the price of DOGE is $0.081 and has decreased by a slight 0.1% in the last 24 hours. However, over the previous seven days, it increased by 5.4%. The monthly trend remains negative with a 9.8% drop, according to CoinGecko data.

It is interesting to note that in 2023, Dogecoin made several people richer by increasing the number of addresses where DOGE worth more than $1 million is stored to 718 addresses, of which 107 own assets worth more than $10 million.