Dogecoin’s Network Activity Soars 528% Amid ETF Buzz: Is a Price Breakout Imminent?

Date:May 15, 2025

Source:Cointelegraph

Introduction

Dogecoin has recently experienced a remarkable surge in network activity, with active addresses increasing by 528% in a single day. This spike coincides with the U.S. Securities and Exchange Commission's (SEC) acknowledgment of 21Shares' spot Dogecoin ETF filing, igniting discussions about potential mainstream adoption and its implications for DOGE's price trajectory.

Unprecedented Network Activity and Market Indicators

On May 13, 2025, Dogecoin's active addresses skyrocketed from 74,640 to 469,477, marking a 528% increase. This surge indicates heightened user engagement and interest in the cryptocurrency. Concurrently, DOGE's futures open interest rose by 70% to $1.65 billion, suggesting strong speculative activity in anticipation of market movements.

Analysts have observed that DOGE's spot taker 90-day cumulative volume delta (CVD) is currently "taker buyer dominant," reflecting more aggressive buying than selling since early March. This pattern previously preceded a 385% rally to $0.48 in Q4 2024.

Technical Analysis and Price Projections

Crypto analyst Trader Tardigrade notes that DOGE has reached a key resistance level around $0.24. A breakout above this resistance could propel DOGE to $0.40, signaling healthy upward momentum. Additionally, an inverse head-and-shoulders pattern on the 1-day chart suggests a potential surge to $0.42, indicating a bullish breakout.

AI-Powered Sentiment Analysis

Our AI analysis of this article revealed:

• Sentiment Score: 0.81 A high positive score suggesting strong optimism and enthusiasm in the discussion around Dogecoin.

• Financial Sentiment: 1.91 Indicates a very bullish financial outlook, with heavy emphasis on potential gains and investment opportunities.

• Polarity Score: 0.062 Reflects a slightly positive but generally neutral tone, showing that while the mood is optimistic, the language remains measured.

• Subjectivity Score: 0.504 This balanced score suggests a mix of objective reporting (data and analysis) and subjective interpretations (analyst opinions and market speculation).

These scores suggest that the market sentiment around Dogecoin is increasingly optimistic, driven by heightened user activity, ETF speculation, and bullish trading patterns. While the tone stays professionally grounded, investor confidence is clearly rising positioning DOGE for a potential breakout.

Read More

Read the full article on: https://cointelegraph.com/news/dogecoin-active-addresses-surge-by-528-will-doge-price-follow

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Disclaimer

This article was generated using AI and reviewed for accuracy. The information presented is for educational purposes only and should not be construed as financial advice. Always consult with a professional before making investment decisions.