Dogecoin could be gearing up for a big move, according to recent on-chain indicators — even as the meme coin’s price languishes around $0.10.
On-chain analytics provider Santiment highlighted a dramatic surge in network activity last week: active DOGE addresses climbed from roughly 41,557 to 114,662, a 176% increase, marking the highest level of participation in months. Chart data shared by analyst Ali Martinez shows activity jumping from a typical 40,000–70,000 range to above 100,000 during the most recent run.
Active addresses are a key gauge of real network engagement — they count wallets that are sending, receiving, or otherwise interacting with the token. For Dogecoin, a crypto known for bursts of retail-driven interest, a sudden spike in address activity often signals renewed attention and can presage stronger price action.
That uptick drew quick reactions from market observers. Crypto commentator Myles G. wrote that DOGE will “pump hard soon,” linking the swell in active addresses to the potential for an imminent rally. While such predictions are common in crypto, the on-chain data provides a tangible signal behind the optimism.
Adding fuel to the narrative is apparent whale accumulation. Martinez also reported that large holders bought roughly 470 million DOGE over a recent 72-hour window, with holdings rising between March 12 and March 14. At DOGE’s current near-$0.10 level, that volume represents an approximate $40–50 million of buying power — a meaningful inflow for a meme asset.
Technically, analysts say Dogecoin already shows building strength — one key threshold to watch is $0.105. If DOGE can hold above that level into the end of the week, many traders would view it as a confirmation that momentum is returning. Historically, coordinated accumulation by large wallets has sometimes preceded upward repricing in crypto markets.
That said, on-chain signals are only part of the picture. Price moves can be volatile and driven by broader market sentiment, news, or short-term flows. For now, the combination of a 176% surge in active addresses and sizable whale buying gives bulls a reason to watch closely — and traders plenty of angles to consider.
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