Attention turned to the OG meme coin network. Over the past few days, Dogecoin (DOGE) has been a hot topic of increased network activity. The number of large transactions and the total number of active addresses have skyrocketed significantly. For now, the price continues to move sideways, but the community is expecting an increase in the coming days.
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Analysis of Dogecoin price hike and market activity
See Dogecoin price
Earlier today, the Dogecoin network recorded its highest number of active addresses in eight months. The total number increased to 133,880, adding further bullish vibes to the DOGE market. This spike in activity may be interpreted as a positive sign. This shows that more people are using the network and that interest and engagement in the Dogecoin ecosystem is increasing.
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The Dogecoin network was relatively stable over the weekend. Additionally, meme coins started the week on a strong note. At the time of writing, DOGE was trading at $0.1132, up 2% in the past 24 hours. Considering current levels, the asset is still 84% below its all-time high of $0.737.
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Should you hold, buy, or sell?
Similar to other metrics, DOGE’s daily volume also skyrocketed. Trading volume soared 53% in the past 24 hours, reaching a total of $780 million. Expectations for October will also increase.
Dogecoin, like other assets on the market, is expected to soar historically. Renowned crypto analyst Ali Martinez prepared the community for the same and shared his bullish predictions. In a recent post on X, experts pointed out that Dogecoin is showing a buy signal.
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