Dogecoin Network Activity Surges 47% Amid Ongoing Price Decline
Dogecoin Market Overview
Dogecoin (DOGE) has dropped over 40% since early March, with a current trading price of $0.17. The entire crypto market is experiencing heavy selling pressure due to macroeconomic uncertainties.
- Meme coins like DOGE are particularly affected by aggressive short-selling.
- DOGE is now 70% below its December high.
- Active addresses on the Dogecoin network increased by 47% in the past month, rising from 110,000 to 163,000.
- Increased network activity may suggest potential accumulation by long-term holders.
- If DOGE can maintain support above $0.15, it may attempt to rise towards $0.20.
- A fall below $0.15 could lead to further declines toward $0.10.
The coming days are critical for DOGE as traders monitor whether the increase in network activity can stabilize prices amidst ongoing market challenges.