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Dogecoin (DOGE) is experiencing a surge in network activity, pushing it back into the spotlight. Crypto analyst Ali highlighted data from Santiment showing a remarkable 400% increase in active addresses on the Dogecoin network, reaching almost 395,000.

Dogecoin $DOGE on fire! On-chain data from @santimentfeed shows that active addresses skyrocketed 400% to nearly 395,000. pic.twitter.com/5WuDKjx64K— Ali (@ali_charts) March 15, 2025

Santiment's March 14th analysis observed that while the broader cryptocurrency market remains subdued, some altcoins are exhibiting increased on-chain and social activity. Typically, during market downturns, significant whale transactions (indicating accumulation) or network growth (suggesting impending transaction increases) are noteworthy. However, this isn't always the case.

While some crypto assets are experiencing growth in network utility, whale activity, and social engagement despite the eight-week market downturn, others are showing significantly reduced activity. Recent weeks have seen sluggish price action across the board, resulting in some speculative assets experiencing their lowest network activity of the year.

Conversely, Dogecoin's on-chain activity is increasing, with Santiment identifying it as a top performer in address activity during this downturn. This spike in active addresses indicates heightened user engagement within the Dogecoin ecosystem, a positive long-term sign.

Dogecoin Price Action

At the time of writing, DOGE is up 2.89% in the last 24 hours, trading at $0.1738. This defies predictions of a death cross, which appeared on its daily chart on March 14th.

Dogecoin rebounded from the $0.14 support level on March 11th and has seen positive price action on three of the last four days. Further upward momentum may face selling pressure around $0.19. A decisive break and close above this level would be a strong bullish signal, potentially leading to a rally towards the 50 and 200-day simple moving averages at $0.242 and $0.248 respectively. While sellers may attempt to halt this upward trend, a successful breakout could propel Dogecoin towards $0.29.

Conversely, a price drop from current levels increases the probability of a fall below $0.14, potentially leading to a decline to $0.10. Read original article on U.Today