Dogecoin has experienced a significant surge in network activity despite subdued price action. The number of active addresses on the meme coin’s network increased by 176% in the past week, rising from 41,557 to over 114,662. Analyst Ali Martinez highlighted this sharp rise. Dogecoin’s price is currently around $0.09575, with its market capitalization standing at approximately $16.19 billion.
Dogecoin’s price saw a slight increase over the last day, registering short-term stability amid broader market pressures. Despite this modest price movement, on-chain data indicates a major spike in user activity on the network.
Market analyst Ali Martinez highlighted a 176% jump in active Dogecoin addresses within a week. The data shows activity rose from about 41,557 to over 114,662 addresses.
At the time of reporting, Dogecoin was trading near $0.09575 with a daily volume of about $1.30 billion. Its total market valuation is approximately $16.19 billion.
The cryptocurrency’s weekly chart currently shows a pattern of lower highs and lower lows, suggesting persistent selling pressure. The key immediate support level for the asset is seen at $0.09.
Analysts note that a definitive trend change would require a weekly close above the $0.14 resistance level. Such a breakout could potentially target the $0.18 to $0.25 price zones.
Conversely, a failure to hold the $0.09 support risks a further decline toward the $0.06 area. This would extend the current downtrend observed in the price structure.
