Dogecoin Daily Active Users Surge 32%: What It Could Mean for DOGE Price

Dogecoin (DOGE) has experienced a significant increase in daily active users, with a surge of 32% in the last 24 hours.

According to data from IntoTheBlock, the number of daily active addresses—defined as those that have made at least one on-chain transaction within the past day—has risen to 55,444.

Recently, Dogecoin’s price has shown signs of recovery following a three-day decline. As of the latest data, Dogecoin has seen a 2.10% increase in the last 24 hours, trading at $0.101.

This rebound has prompted market observers to closely watch the relationship between the rise in active addresses and the price movement of DOGE.

Potential Impact on DOGE Price

The rise in daily active addresses is significant because it may indicate growing interest and demand for Dogecoin. If this trend continues, it could potentially push the price higher.

Key Points to Consider:

• Surge in Daily Active Users: A 32% increase in active Dogecoin addresses, reaching 55,444.
• Price Rebound: Dogecoin’s price is up 2.10%, currently trading at $0.101.
• Potential Upside: Analysts suggest that a sustained rebound could push DOGE above $0.115, sparking a new uptrend.

Market analysts suggest that if the current rebound sustains, buyers might target a price above the 50-day Simple Moving Average (SMA) at $0.115. A break above this level could trigger a new uptrend, driving Dogecoin’s price even higher.