Dogecoin Sees Major Surge in Active Addresses: Is a DOGE Price Rebound Near?

March 10, 2025

Yesterday, news broke out that there will be weekly livestreams featuring Elon Musk and Vivek Ramaswamy, where they discuss recent developments in the Department of Energy (D.O.G.E.). Of course, almost immediately, tokens on both Ethereum and Solana's ecosystem were created with the same name. We will be focusing mostly on the one on Ethereum since in this ecosystem there are more PolitFi traders who can drive the price up. Is Dogecast the Next Big Meme Coin? Current market cap of Dogecast on this network is around $7 million and this could potentially go much higher, especially when Elon starts tweeting about it. He actually already confirmed 2 days ago that there will be weekly updates about DOGE. However, he still needs to use the actual word "Dogecast" and this could go bananas. https://twitter.com/DogecastETH/status/1857685094166667413 A lot will also depend on how frequently Elon discusses this topic and when the podcast actually launches. According to reports, it's starting "soon," and once the official date is announced, it could potentially benefit the price as traders will have a specific date to focus on. This kind of concrete timeline often creates anticipation in the market. Of course, note that this is a new meme coin that relies mostly only on a narrative that could be hot in the upcoming days but it also depends on their CTO and team. If they decide to rug pull, it can easily go to 0. However, if they don't do that and narrative stays hot, we are potentially looking at $50 million market cap or even $100+. Remains to be seen in any case.

Dogecoin has dropped more than 60% from its December high. But there might be light at the end of the tunnel for DOGE holders as recent network data shows signs of life.

The Dogecoin network suddenly came alive yesterday, with active addresses skyrocketing by 270%. Ali reports that address activity jumped from 71,750 to 264,000 in just 24 hours. This kind of surge often precedes price movement, making this a potentially significant development.

The number of active #Dogecoin $DOGE addresses surged 270% in the last 24 hours, jumping from 71,750 to 264,000! pic.twitter.com/4QSp1lAcGo
— Ali (@ali_charts) March 9, 2025

What you'll learn 👉

Ascending Channel Pattern Shows an Incoming Dogecoin Rebound

DOGE is currently hovering around $0.16841 after a painful 29.62% drop. Ali is watching the $0.16 level closely as it represents a crucial support zone. This level isn’t arbitrary; it lines up with a previous Fibonacci retracement level (around 0.618) and has acted as an important historical price zone.

Looking at the bigger picture, Ali’s chart shows that Dogecoin has been moving inside an ascending parallel channel, suggesting that despite recent pain, the long-term trend remains bullish. Right now, DOGE is testing a mid-range level within this channel at a historically significant support zone.

If Dogecoin can hold steady at $0.16 and bounce, it could make a run toward the next Fibonacci extension levels between $1.00 and $2.00. The $2.00 target comes from extended 1.272 and 1.414 Fibonacci projections—levels that often mark important targets during crypto bull markets. On the flip side, if DOGE breaks down further, the next major support would likely be found between $0.10 and $0.12.

Dogecoin Historical Pattern Suggests Potential Upside

Trader Tardigrade has spotted an interesting pattern in Dogecoin’s recent history. Since October 2022, DOGE has experienced three significant pullbacks. The first two corrections saw drops of around 64%, which were then followed by explosive rallies of +300% and +500%.

The current pullback sits at approximately 66%, remarkably similar to previous corrections. If this pattern holds true, we could be on the verge of another major pump that might push Dogecoin toward the elusive $1 mark.

This is a critical moment for Dogecoin. How it responds at the $0.16 support level could determine its trajectory for the coming months. The combination of surging network activity and price reaching a technically significant support zone creates an intriguing setup for the popular meme cryptocurrency.

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