Dogecoin’s Network Activity Surges 47%: Is the Meme Coin Ready for a Comeback?

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Oh, Dogecoin! The beloved meme coin that captured the hearts of crypto enthusiasts everywhere is facing a critical moment. It’s lost over 40% of its value since the start of March, and the entire crypto market is under intense selling pressure. But fear not, my dear DOGE-lovers! There’s a glimmer of hope on the horizon.

According to Glassnode metrics, Dogecoin network activity is surging, with a 47% increase in active addresses over the past month. Historically, increased network usage and transaction activity can indicate renewed interest and potential accumulation by long-term holders. So, if this trend continues, DOGE could see a rebound once market conditions start to improve. 🤞

But wait, there’s more! Analyst Ali Martinez shared on-chain data, revealing that Dogecoin’s network activity is increasing. Active addresses have surged by 47% in the past month, rising from 110,000 to 163,000. Historically, rising network activity has often preceded a recovery in price, as it indicates renewed interest and engagement in the ecosystem.

While DOGE still faces significant resistance, this spike in activity could be an early sign that buyers are returning. If Bitcoin stabilizes, the meme coin sector could see a relief bounce, potentially leading Dogecoin back toward key resistance levels. For now, DOGE remains under pressure, but its growing network activity provides a glimmer of hope for bullish traders watching for a turnaround.

Dogecoin Down 70% As Network Activity Shows Grows

Oh, the pain! Dogecoin has suffered a brutal sell-off, now trading 70% below its December high as selling pressure remains relentless. Meme coins, in general, have been the most affected assets in the market, as fear and speculation drive investors away from high-risk assets. With DOGE failing to find strong support, bulls have a lot of work to do before any meaningful recovery can take place.

But wait, there’s more! Analyst Ali Martinez shared on-chain data on X, revealing that Dogecoin’s network activity is increasing. Active addresses have surged by 47% in the past month, rising from 110,000 to 163,000. Historically, rising network activity has often preceded a recovery in price, as it indicates renewed interest and engagement in the ecosystem.

While DOGE still faces significant resistance, this spike in activity could be an early sign that buyers are returning. If Bitcoin stabilizes, the meme coin sector could see a relief bounce, potentially leading Dogecoin back toward key resistance levels. For now, DOGE remains under pressure, but its growing network activity provides a glimmer of hope for bullish traders watching for a turnaround.

Dogecoin Struggles At $0.17 As Bears Maintain Control

Oh, the drama! Dogecoin is currently trading at $0.17 after enduring massive selling pressure and a dramatic shift in market sentiment toward fear. The broader crypto market downturn has hit meme coins the hardest, with DOGE struggling to find stability amid relentless sell-offs.

For a potential recovery, DOGE must hold above the crucial $0.15 support level. If bulls manage to defend this zone, they could attempt a push toward the $0.20 mark, a key psychological resistance. Reclaiming $0.20 would signal a possible reversal, providing DOGE with the momentum needed to sustain a recovery rally.

But wait, there’s more! Analyst Ali Martinez shared on-chain data, revealing that Dogecoin’s network activity is increasing. Active addresses have surged by 47% in the past month, rising from 110,000 to 163,000. Historically, rising network activity has often preceded a recovery in price, as it indicates renewed interest and engagement in the ecosystem.

While DOGE still faces significant resistance, this spike in activity could be an early sign that buyers are returning. If Bitcoin stabilizes, the meme coin sector could see a relief bounce, potentially leading Dogecoin back toward key resistance levels. For now, DOGE remains under pressure, but its growing network activity provides a glimmer of hope for bullish traders watching for a turnaround.

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2025-03-14 00:41