Dogecoin Sees Massive Spike in Activity Despite Price Decline

Dogecoin’s network has seen a massive uptick in activity, with the number of active addresses skyrocketing by 400%, according to blockchain analytics.

Data from Santiment, shared by analyst Ali Charts, highlights a surge in active addresses, reaching nearly 395,000. This suggests a renewed interest in Dogecoin, potentially tied to increased development efforts or broader adoption.

The reasons behind the spike remain unclear, but it marks a sharp contrast to the declining engagement seen in previous months.

Between late December 2024 and February 2025, Dogecoin’s price experienced a downturn, accompanied by a drop in daily active addresses, indicating that falling prices discouraged participation. However, since March 2025, both activity and price have shown signs of recovery.

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DOGE is currently trading at $0.1649, reflecting a 1.55% dip over the past 24 hours and an 18.39% decline over the past week.

A closer look at capital movements between May 2024 and March 2025 reveals a pattern: periods of capital inflows—such as those in October and November 2024—coincided with price increases, while sustained outflows from December onward mirrored its price decline.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.