Dogecoin (DOGE) has dropped 38.43% in the past 30 days, struggling to keep pace with the broader market. However, on-chain data from Santiment shows a 1.24% increase in wallets holding at least 1 million DOGE since February, signaling accumulation by major investors who may anticipate a price recovery.
Active DOGE addresses have surged past 150,000 daily, the highest since November. If this rise in transactions stems from adoption rather than panic selling, it could support long-term price stability and a bullish move.
Currently, DOGE trades around $0.1661, about 70% below its December 2024 peak of $0.48. The 9-period EMA shows lower highs and lows, indicating bearish momentum, with a key support level at $0.165. Still, increasing network activity suggests a potential relief rally ahead.
Active DOGE addresses have surged past 150,000 daily, the highest since November. If this rise in transactions stems from adoption rather than panic selling, it could support long-term price stability and a bullish move.
Currently, DOGE trades around $0.1661, about 70% below its December 2024 peak of $0.48. The 9-period EMA shows lower highs and lows, indicating bearish momentum, with a key support level at $0.165. Still, increasing network activity suggests a potential relief rally ahead.