Dogecoin has been stuck at 5 million active addresses for a while now. Since the beginning of the bull-market dogecoin had gone up 11%, reaching a new high of 11 billion dollars. This is exactly what everyone had wanted. Now we're about to see it reach 6 million addresses. Isn't it just crazy how the amount of addresses in a network are directly correlated to how successful a chain is? It is pretty crazy. The aim is to have as many loyal users as possible and as little churn as possible. Churn means the amount of wallets that sell over time. For example, if you get an average of 100 new users to doge each day, 15% of them might leave after a month. That's what churn means. 15% is actually pretty low but also still bad at the same time. Crypto churn rates are usually 50% month over month for small projects but dogecoin is a large mcap project so i suppose that makes alot of sense.
Most importantly though is the capability of growth. Word of mouth marketing at that amount of users is extremely important. Doge should focus on telling their users to spread the word to their friends. If just 500,000 people (10% of the 5 million holders) told their friends about dogecoin.. I could personally bet you a million dollars that it'd 2x overnight. We're assuming that people have friends ofcourse. Let's say each one of them have aroud 4-6 friends on average including family members. Which means that they're introducing 2-3 million people to doge by default; overnight.
A bit interesting but back to the main topic, dogecoin will experience this growth because of what's happening in the general market environment right now.
