What to know:
- Dogecoin active addresses rose 28% to 73K, showing higher network activity.
- RSI near 52 and MACD hint at early, weak bullish momentum.
- Analysts eye a possible breakout toward $0.30 if volume increases.
Dogecoin active addresses surged 28% over the past week, rising from 57,000 to 73,000, signaling increased on-chain engagement across the network.
According to the crypto analyst Ali Charts, the jump suggests renewed participation from traders and users, reflecting stronger transaction activity and heightened interest in the meme-driven ecosystem during recent market volatility across broader cryptocurrency conditions this week globally across the market cycle.
Source: Ali Charts’ X Post
While the surge in Dogecoin activity highlights stronger engagement, analysts caution that rising active addresses do not always translate into long-term adoption or price gains.
Such spikes often reflect short-term trading behavior, though they can indicate renewed liquidity, speculative interest, and temporary momentum within the broader digital asset market landscape overall in recent market weeks.
Also Read: Dogecoin Slides as Liquidations Spike and Support Weakens
DOGE Technical Setup Hints at a Bullish Move to $0.30
Despite this network growth, DOGE is in a phase of consolidation, referred to as a basing phase, after a period of high volatility in its price action, with a narrower trading range than before.
As a crypto analyst, Chiefrat, explains, this is a phase where traders are in a state of accumulation, where there is a decrease in selling pressure, and traders are positioning themselves for a potential bigger move in the future when momentum returns to the broader crypto space.
Source: Chiefrat’s X Post
The market watchers are keeping an eye on the July-August period for a possible inflection point for DOGE. Provided the support holds and bullish momentum increases, a breakout could be targeted for the $0.30 level, which is a significant level for DOGE.
However, this will only be possible if volume and overall crypto market conditions improve, or else the consolidations could continue throughout the year.
Momentum Indicators Point to Emerging Bullish Power
According to TradingView, the Relative Strength Index (RSI) is currently at 52.06, resting comfortably in neutral territory above the halfway mark.
This means bulls and bears are not in control of the current pace. Looking at the RSI on this chart in the past, it has always been difficult for it to go beyond 70.
Source: TradingView
The MACD line seems to be moving ahead, crossing the blue line over the orange line. The values being close to zero means volatility remains low, and the histogram has shifted from red to pale green.
This means the bearish momentum is losing steam, but the trend remains precarious until these lines move into positive territory.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Dogecoin Eyes $0.112 Rally: Can Bulls Flip $0.10 Into Support?
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