1. A Sudden Transaction Explosion on the Dogecoin Blockchain
2. The Significance of the New Price Level
3. The Future of Dogecoin: What Awaits Us?

The crypto market often experiences sudden and unpredictable fluctuations. Recently, Dogecoin, initially considered a meme cryptocurrency, has once again attracted attention by demonstrating significant growth in activity.

A Sudden Transaction Explosion on the Dogecoin Blockchain

Last week, Dogecoin recorded a significant increase in its daily transactions, reaching 1.93 million. This figure represents an increase of over 100% compared to the previous week, making it the most active week since July 2024. Such a transaction surge comes after nine consecutive weeks of low blockchain activity. A report from IntoTheBlock notes that this activity surge is 'a breath of fresh air for the Dogecoin community' after several months of stagnation. Since March, Dogecoin network activity had declined significantly, with volumes well below its historical peaks.

The Significance of the New Price Level

The transaction surge coincided with attempts to stabilize the Dogecoin price around $0.104. Despite the surge in network activity, the DOGE price has yet to show clear signs of progress. The $0.104 resistance level remains a major obstacle for investors. Analysts believe that overcoming this barrier could pave the way for a new bullish trend, but this level remains difficult to surpass for now. In the short term, markets are closely watching whether this increased activity will translate into a sustainable price rise.

The Future of Dogecoin: What Awaits Us?

Despite the increase in transactions, Dogecoin remains below its past performance levels, particularly during February and March 2024 when the blockchain regularly processed more than 10 million transactions per week. Although the current rise is significant, it has not yet reached previous highs. Moreover, the resistance around $0.104 is an additional obstacle, as approximately 23,400 addresses still hold DOGE at a loss, and a rise to this level could trigger massive sales. This would hinder a bullish momentum. The future of Dogecoin will largely depend on its ability to maintain this momentum. If blockchain activity continues to increase, it would signal renewed interest from investors, especially those attracted to low-priced assets. However, technical obstacles and psychological resistances remain significant challenges to overcome.

In sum, the recent increase in transactions on the Dogecoin blockchain could mark the beginning of a new chapter for the cryptocurrency. However, several factors, such as resistance levels at $0.104 and $0.110 and the fragility of investor sentiment, suggest that this rise could be short-lived.