Dogecoin Active Addresses Surge, Bulls Pushing for a Comeback

TL;DR

• Dogecoin active addresses have surged to nearly 50,000, signaling renewed network activity.
• Whale traders are increasing long positions while closing shorts, boosting bullish sentiment.
• DOGE has fallen below a key support zone, keeping the technical outlook under pressure.
• Analysts are watching the $0.05–$0.06 support area unless bulls reclaim the $0.118 resistance.

Dogecoin is showing mixed signals as on-chain activity accelerates while its price continues to face technical pressure. The meme coin has recorded a sharp rise in network participation, with active addresses climbing to nearly 50,000, even as critical support levels remain under threat.

The contrasting data suggests that although market interest in DOGE is increasing, traders remain divided over its near-term direction.

Fresh on-chain data indicates that Dogecoin’s daily active addresses have surged to almost 50,000, marking one of the strongest increases in network activity in recent months. Rising active addresses are often viewed as a sign of growing user engagement and can reflect increasing transaction activity across the blockchain.

The spike comes as broader crypto markets attempt to stabilize following recent volatility, putting Dogecoin back on investors’ watchlists.

Whale Positioning Turns More Optimistic

Sentiment among larger market participants also appears to be shifting.

According to market data shared by analysts, whales have started reducing their short positions and increasing long exposure for the first time since Bitcoin began its decline from around $82,000. Among the assets attracting the strongest institutional-style signals are XRP and Dogecoin.

A separate market sentiment dashboard also showed DOGE carrying one of the highest short concentrations among major cryptocurrencies, while its risk score moved into an elevated zone. Such positioning can create conditions for heightened volatility if prices move sharply against heavily leveraged traders.

Dogecoin Price Technical Picture Still Calls for Caution

Despite improving network metrics and changing whale behavior, Dogecoin’s chart continues to reflect a bearish structure.

Recent price action shows DOGE falling below another major support zone between $0.074 and $0.08. The token also remains below both the 8-week and 21-week exponential moving averages, which continue trending downward, a sign that sellers still maintain control.

Bulls would need to reclaim the $0.118 resistance area to weaken the current bearish outlook or establish a convincing bottom before sentiment can shift meaningfully. If selling pressure continues, attention could turn to the long-term support region between $0.05 and $0.06, an area that has historically attracted buyers during previous market cycles.

Momentum indicators present a mixed picture. While the Stochastic RSI has already entered oversold territory, the Relative Strength Index (RSI) has yet to reach comparable levels, suggesting there could still be room for additional downside before a stronger reversal develops.

For now, Dogecoin presents conflicting signals. Rising network activity and improving whale positioning hint at renewed interest, but technical indicators continue to point toward caution until key resistance levels are reclaimed and the broader trend begins to improve.

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