Dogecoin network activity has accelerated sharply as on-chain data reveals 157,190 active addresses recorded over 24 hours, representing a significant 34.91% increase. This jump in user engagement suggests growing investor interest in the meme cryptocurrency’s ecosystem.
Despite heightened network usage, DOGE’s price dipped 2.19% to trade at $0.1996 alongside an 17.91% decline in trading volume, which now stands at $1.45 billion. Market watchers note intensified whale accumulation exceeding 1.1 billion DOGE, raising concerns about potential selling pressure and market volatility.
Technical analysts emphasize the critical $0.20 resistance threshold for Dogecoin. Failure to reclaim this level could trigger a downward movement toward the $0.191 support zone, testing market resilience despite the recent surge in adoption metrics.