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 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.
ABOUT THE AUTHOR
See More
Sidebar rates
Related Posts
SaveAdd 3440
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals