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Dogecoin active addresses rise 16% weekly
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Dogecoin active addresses rise 16% weekly

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  • Dogecoin (CRYPTO:DOGE) weekly active addresses rose 16%, from about 38,000 to more than 44,000.
  • DOGE recently reached a three-year low of US$0.067 and remains about 90% below its record high.
  • CoinPedia said DOGE must break US$0.083 before its current downtrend could be considered invalidated.

Dogecoin (CRYPTO:DOGE) weekly active addresses rose 16%, increasing from about 38,000 to more than 44,000.

The increase came after DOGE reached a three-year low of US$0.067 during its recent price decline.

“$DOGE is now at its most oversold levels ever,” said crypto analyst Ash Crypto.

DOGE's monthly RSI has fallen below levels recorded during the 2022 market bottom, according to the analysis.

CoinPedia identified US$0.075 as nearby resistance and said DOGE needs to break US$0.083 to invalidate its downtrend.

CoinPedia said a daily close above US$0.083 could support a move towards US$0.09 and then US$0.10.

However, CoinPedia said a fall below US$0.067 could weaken the recovery case and put recent lows back in focus.

At the time of reporting, Dogecoin price was $0.07002.

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