The Dogecoin network shows significant activity with a 47% rise in active addresses, indicating growing user interest and potential accumulation.
Increase in Dogecoin Active Addresses
In March 2025, Dogecoin saw an increase in active addresses from 110,000 to 163,000. This rise indicates growing user involvement and potential accumulation of tokens. Additionally, the potential launch of a Dogecoin ETF is under discussion, which may increase cryptocurrency accessibility for institutional investors. A positive ETF outcome could mimic the price enhancement seen in Bitcoin post-ETF introduction.
Bullish Reversal Pattern on Weekly Chart
The Dogecoin weekly price chart shows the development of a bullish reversal doji pattern, suggesting a potential market trend shift. During the recorded period, Dogecoin's price recovered from $0.1429 to $0.1676, fostering positive market sentiment. Historical comparisons show that price rebounds to the boundary of its channel often led to significant upwards movements exceeding 500%. This highlights the cryptocurrency's potential for future gains.
Dogecoin Futures Market Insights and RSI
Analysis of Dogecoin’s futures market open interest (OI) and trading volume reveals noteworthy trends. Peak OI was recorded in mid-January 2025, with token value ranging between $0.40 and $0.50. The current OI level of $1.4 billion suggests a return of investors. The RSI indicator reveals a potential bottoming pattern, suggesting a possible price reversal.
Considering the network’s activity growth, potential ETF announcement, and analytical support, Dogecoin stands at a key point. Market signals point to prospects of price recovery and growth in the upcoming months.
