Dogecoin (DOGE) Price: Network Activity Surges While Price Holds Key Support

TLDR

• Dogecoin active addresses surged 28% in one week, rising from 57,000 to 73,000
• DOGE price dipped 1.64% before recovering 0.46% to $0.09210
• Analyst Ali Martinez flagged the on-chain activity spike using Santiment data
• A bearish trend line is forming with resistance at $0.0928 on the hourly chart
• Key support sits at $0.0885, with a break below potentially pushing DOGE to $0.0835

Dogecoin’s blockchain saw a sharp rise in active addresses this week. Data from analytics platform Santiment shows the number of active addresses climbed from around 57,000 to 73,000 in just seven days.

Crypto analyst Ali Martinez shared the data on March 31. He highlighted the 28% week-over-week increase as a sign of growing user participation on the network.

Active addresses count wallets that are sending, receiving, or trading tokens. A rise in this metric shows more people are engaging with the blockchain, though it does not confirm whether they are buying or selling.

Network Activity Picks Up

Martinez noted that on-chain metrics like this often shift before price movements become visible. The current data point is being watched closely by analysts tracking DOGE’s next move.

Network activity can be driven by both buyers and sellers. Traders repositioning, moving assets between wallets, or exiting positions all contribute to the count.

Periods of elevated address activity have, in past cycles, come before phases of increased volatility. The direction of that volatility depends on broader market conditions.

DOGE price dipped 1.64% before staging a partial recovery. The token is now trading at $0.09210, up 0.46% at the time of writing.

Price Faces Resistance Near $0.0928

Dogecoin climbed above the $0.0905 and $0.0912 resistance levels during the recovery move. The price also moved above the 50% Fibonacci retracement level of the recent swing from $0.0937 down to $0.0893.

However, sellers have pushed back near the $0.0930 zone. A bearish trend line is forming on the hourly chart with resistance sitting at $0.0928.

DOGE is currently trading above the $0.0912 level and the 100-hourly simple moving average. The 76.4% Fibonacci retracement level also sits near the $0.0928 resistance zone.

If DOGE breaks above $0.0930, the next levels to watch are $0.0950 and $0.0980. A move past $0.0980 could bring the $0.10 level into range.

On the downside, initial support is at $0.0915, followed by $0.090. The main support sits at $0.0885.

A break below $0.0885 could push the price toward $0.0860 or $0.0835.

DOGE is currently consolidating below $0.10, with bulls and bears testing key levels on the hourly chart.

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