Dogecoin (DOGE) on-chain data shows unusual activity— a key indicator that once signaled a trend reversal has recently surged significantly. With prices stabilizing and rebounding near a key support level, the market can't help but wonder:
Is DOGE about to start a new round of increases?
According to data, on December 3rd, the number of daily active addresses (DAA) for Dogecoin surged to 67,511, marking the second highest level in the past three months. Notably, when this indicator peaked on September 15th of this year, the DOGE price was touching a local high of $0.30, after which it entered a correction. Historical data shows that a sudden increase in DAA often accompanies intense bullish and bearish battles within high price ranges.
Currently, DOGE has pulled back about 50% from its peak, and the number of active addresses is climbing again, which may indicate that the market is re-entering a dense trading zone at this position. Meanwhile, DOGE has risen 3.5% in the past 24 hours, currently quoted at $0.14, a price level that has been validated as a key support recently, having successfully rebounded three times.
With the increase in price, DOGE trading volume has doubled, showing obvious signs of buying interest. The increase in on-chain activity resonates with the enlarged trading volume. Is this a signal of a trend reversal?
Key technical levels and trend outlook
If DOGE can hold the support at $0.14 and further break through the resistance at $0.16, it is expected to confirm a short-term trend reversal, breaking the recent downtrend structure. After the breakout, the first target can be seen near the 200-day exponential moving average (EMA), which typically carries strong technical significance and trading density.
If the mid-term trend can be reversed, DOGE may challenge the high point level of September this year, which corresponds to the peak period of active addresses recently.
Macroeconomic environment and market opportunities
This week's Federal Reserve meeting will be a key variable affecting market sentiment. If a rate cut signal is released, it may inject liquidity expectations into the crypto market, boosting asset prices towards recent highs. Under the dual influence of macro trends and on-chain data, whether Dogecoin can achieve a sustainable rebound is worth close attention.
Note: The increase in on-chain active addresses often reflects rising user participation and can serve as a reference for sentiment and network health, but investment decisions still need to consider technical patterns, market conditions, and risk management.#DOGE冲冲冲
