Dogecoin Eyes Breakout as Wallet Addresses Hit 83.48 Million
Dogecoin (DOGE) is on the move as wallet addresses hit an all-time high of 83.48 million, showing increasing user adoption and market...
Dogecoin (DOGE) is on the move as wallet addresses hit an all-time high of 83.48 million, showing increasing user adoption and market activity.
This was reported March 4 and is showing interest from both retail and institutional investors.
Total Dogecoin wallet addresses: 83.48 million
Whale accumulation (last 24 hours): 180 million DOGE
Price: Currently at $0.20, up 2% in 24 hours
The increase in addresses may be due to speculation and new integrations, including a proposal by Cardano founder Charles Hoskinson to make Dogecoin a payment method on X (formerly Twitter). This could lead to more mainstream adoption.
Dogecoin price eyes recovery as it consolidates below key resistance levels. Bulls aim to break above $0.2120 for a potential rally towards $0.2350. #DOGE #cryptocurrency pic.twitter.com/66A5ucMaTI
— kuberty digital (@kubertyDigtal) March 5, 2025
Whale Activity Indicates Price Upcoming
On-chain data shows whale accumulation, which is often a precursor to a price pump.
Last 24 hours: Whales bought 180 million DOGE.
Last 7 days: Whales bought 910 million DOGE at key levels.
Daily volume has dropped 41.38%. Analysts call this the “calm before the storm”.
Market is looking good as Dogecoin price is following the historical pattern of accumulation before big breakouts.
🚀 #Dogecoin network activity hits ATH with record wallet addresses! Analysts predict price surge as adoption grows 📈. Major merchants & celeb endorsements boost confidence. #DOGE eyes breakout amid market stability. Stay cautious but hopeful! 😊 #Crypto
— coinreddit.com (@coinreddit) March 5, 2025
Dogecoin Technicals Suggest Bullish Reversal
Dogecoin (DOGE/USD) is at $0.2086, just below the 50 day EMA at $0.2092. Bounced from $0.1979 support, confirming strong buying at this level. However DOGE has a resistance at $0.2254 which is the descending trendline since mid February.
Break above this and we could see $0.2420 and $0.2604.Below $0.1979 and we could see $0.1842 and $0.1727. 50 day EMA is acting as dynamic resistance, close above this and we will see bullish momentum.
Watch for a volume backed break above $0.2254 to confirm the trend. If DOGE doesn’t hold, we will see more consolidation or downside pressure, so neutral to bearish in short term.
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