Altcoins are experiencing a resurgence, led by Dogecoin (DOGE). Data revealed that a significant amount of old DOGE was transferred from dormant wallets today.
This activity, combined with the emergence of 121 new wallets last month holding more than 1 million Dogecoins, indicates renewed interest in memecoin-based cryptocurrency, according to Santiment analysts.
According to Santiment analysts, the increase in activity in long-dormant DOGE wallets has reached its highest level since June, which analysts claim is a signal of change in the course of the price.
In addition, the number of daily active Dogecoin addresses has increased by 87% since the beginning of November, according to data.
Astrobotic company's DOGE Lunar Mission is expected to be launched in December.
However, the altcoin market had witnessed a contraction in market values even before the recent Binance news, which many attributed as the reason for one of the most significant pullbacks of the year. Interestingly, some traders appear to be swapping their Binance Coins (BNB) for FTX's native token, FTT, following the Binance news.
*This is not investment advice.
