Dogecoin (DOGE) Activity Spike Reaches 400%: Bullish Signal?

Jakarta, Pintu News – Recently, the Dogecoin network showed significant changes, with a 400% increase in the number of active addresses, reaching nearly 395,000.

This drastic increase in a short period caught the attention of many and led to speculation about what was happening within the network.

Is this a sign of an impending price spike or just a temporary increase in activity?

Analysis of Active Address Improvement

According to U Today, the increase in the number of active addresses on the Dogecoin (DOGE) network shows that more people are using DOGE, whether for transactions, trading, or preparing for upcoming events.

Such phenomena are often associated with increased speculation, wider network involvement, or larger changes in market sentiment. However, it is important to consider whether this will have a long-term impact or is just a one-off phenomenon.

These spikes in activity don’t happen for no reason; usually, they indicate a change in market dynamics. Does this mean there will be significant price movements? History has shown that increases like this can be a precursor to price spikes due to increased demand.

Read also: Michael Saylor: “Bitcoin is getting stronger!”, what does that mean?

Correlation with Dogecoin (DOGE) Price

Historically, spikes in active addresses often correlate with price volatility. This sometimes precedes sharp price increases due to increased liquidity and demand.

Currently, with nearly 395,000 active addresses, many market participants are trying to predict the future price of Dogecoin (DOGE) based on these on-chain signals. However, keep in mind that this increased activity could also reflect temporary speculative movements.

It is possible that it will subside as quickly as it appeared. Therefore, it is important to observe further whether or not this will impact the long-term price trend.

Also read: Coin MUBARAK meme explodes, BNB Chain overtakes Solana! BNB price ready to reach IDR 11.4 million?

Long-term Implications for Dogecoin (DOGE)

Although Dogecoin (DOGE) is known as a meme coin, it has repeatedly proven that its network is not just about humor but also about real engagement. A strong community has always been a key strength of Dogecoin (DOGE), and these latest numbers show there’s more to the dynamic than just sentiment.

More transactions, more movement, and more engagement usually lead to an outcome, even though the goal may not be clear at the moment.

Dogecoin (DOGE) is currently trading at $0.16784, up 17.8% from its weekly low. Whether this is a sign that Dogecoin (DOGE) is gearing up for the next price hike or it’s just experiencing a temporary spike, one thing is for sure: it’s getting people’s attention.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• U.Today. Dogecoin (DOGE) Witnesses Epic 400% Spike in Activity, Bullish. Accessed on March 18, 2025
• Featured Image: Generated by AI