Dogecoin (DOGE) is back in the spotlight following a dramatic 176% surge in its network activity over the past week. According to data from Santiment, the number of active DOGE addresses skyrocketed from 41,557 to 114,662, marking the highest level of on-chain participation seen in months. This surge in real-world usage has prompted analysts to speculate about a potential price rebound for the meme coin, which has been trading weakly near the $0.10 level.
Prominent market commentator Ali Martinez highlighted the data, noting that the spike in activity began near the end of the previous week. "Dogecoin $DOGE active addresses jumped 176% in the past week, climbing from 41,557 to 114,662," he posted on social media. Analysts often view a rapid increase in active addresses as a precursor to price movement, signaling a return of broader market interest.
Further fueling bullish sentiment, Martinez reported that whales purchased approximately 470 million DOGE within a 72-hour window between March 12 and March 14. While whale accumulation alone does not guarantee a rally, it is interpreted as a sign of growing confidence among large holders during a period of soft price action. Analyst Myles G. directly tied the on-chain signals to a price prediction, stating Dogecoin could "pump hard soon."
Technical traders are closely watching the $0.105 price level as a key near-term support. Analysts suggest that holding above this threshold is crucial for maintaining the current constructive setup. If DOGE remains above $0.105, the combination of surging network growth and heavy whale buying may translate into tangible price strength. However, the broader market has yet to confirm a definitive breakout, leaving the coin in a consolidation phase within a larger downtrend, with analysts identifying $0.08 as a critical "reset point" should weakness persist.
