The Dogecoin network has seen a huge spike in activity, with the number of active addresses increasing by 400%, according to blockchain analysts.

Data from Santiment, shared by 'Ali Charts,' highlight the sharp increase in active addresses, reaching almost 395,000. This suggests renewed interest in Dogecoin, which may be related to increased development efforts or broader adoption.
The reasons for the jump remain unclear, but it marks a sharp contrast with the decreasing engagement observed in the previous months.
Between the end of December 2024 and February 2025, the price of Dogecoin experienced a decline, accompanied by a decrease in the number of active daily addresses, indicating that falling prices discouraged participation. However, since March 2025, both activity and price show signs of recovery.
Bitcoin is facing consolidation against the backdrop of market uncertainty
At the time of writing the article, DOGE is trading at a price of $0.1649, reflecting a decrease of 1.55% over the last 24 hours and 18.39% over the last week.
A closer look at the movement of capital 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 onwards reflected a decline in its price.