Dogecoin

bullish

Source

<ul>
 <li>Dogecoin active addresses surged to 127,570, signaling strong user growth and renewed interest.</li>
 <li>DOGE futures open interest hit $3.03B, showing rising investor confidence near key resistance.</li>
 <li>Analysts target $0.287–$0.34 as DOGE forms a bullish pennant and enters the Wyckoff markup phase.</li>
</ul>
<p>Dogecoin is showing clear signs of a strong move upward as market activity increases. With a notable rise in address activity, rising open interest in futures, and price structure turning bullish, the conditions are forming for a breakout. DOGE is currently trading at $0.2262.</p>
<h2 class="wp-block-heading" id="rising-network-activity-and-market-interest">Rising Network Activity and Market Interest</h2>
<p>According to an analysis prepared by Ali, active addresses on the Dogecoin network surged to 127,570 as of May 13. This marks the highest level seen in over a year. The increase follows a period of stable activity, with addresses ranging between 60,000 and 80,000 until early May.&nbsp;</p>
<figure class="wp-block-image"><a href="https://x.com/ali_charts/status/1922652619912208864" target="_blank" rel="noopener noreferrer nofollow"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXc3AZOSNQeDJqUSRqeDObXsRhI2LJo2KRwbP58HlsGWYfjiP3ZtrwWUDYFlQ9V786utDdnXi6d-UHXWsBEgBHTj9nCz5XqRVXpMpVzKQRJgJ4s75aXyiYigh5bhBH7xxQqFVHVDDA?key=XZllgHuQ4TFh3XMhD8jgUw" alt=""></a>
 <figcaption><strong>Source :Ali Charts(X)</strong>
 </figcaption>
</figure>
<p>On May 13, Dogecoin’s active addresses reached a peak of over 469,000, showing renewed market participation. This development came after the SEC acknowledged a 21Shares filing for a potential spot DOGE ETF. The news appears to have sparked interest among investors, especially as DOGE’s price has rebounded from $0.16 to near $0.24 within days.</p>
<figure class="wp-block-image"><a href="https://x.com/TATrader_Alan/status/1922614634030436582" target="_blank" rel="noopener noreferrer nofollow"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXchGvJOVtII9YHXKMATcXN7Z0Dj3kWsbtnmgxhPrNPV0DLaMF5IFBWfJnIMC49tT7vdHa6f-nCaFeKWALk34xl0rKMBoHqiM8pHwpn8KFaiUIsJbw_DY9FMODYaNX3bz36CdKCiBw?key=XZllgHuQ4TFh3XMhD8jgUw" alt=""></a>
 <figcaption><strong>Source :Trader Tardigrade(X)</strong>
 </figcaption>
</figure>
<p>According to an observation by Trader Tardigrade, <a href="https://cryptofrontnews.com/dogecoin-doge-targets-0-37-as-bull-flag-breakout-approaches/" target="_blank" rel="noopener noreferrer nofollow">Dogecoin is now</a> near the critical resistance level of $0.25. The price movement shows the formation of a bullish pennant pattern, supported by higher lows and strong RSI positioning near 75. If DOGE breaks above this zone, it could signal a continued upward trend.</p>
<h2 class="wp-block-heading" id="open-interest-and-chart-patterns-point-to-upward-move">Open Interest and Chart Patterns Point to Upward Move</h2>
<p>CoinGlass data shows that Dogecoin futures open interest has increased by $280 million, reaching a total of $3.03 billion. This reflects rising investor commitment as DOGE trades near a key resistance level.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/Karman_1s/status/1922703528574717967
 </div>
</figure>
<p>The funding rate is positive at 0.0105%, showing buyers are paying to keep their positions open. Several analysts have noted bullish chart patterns. Crypto analyst Jonathan Carter pointed to a breakout from a long-term descending channel.&nbsp;</p>
<figure class="wp-block-image"><a href="https://x.com/JohncyCrypto/status/1921889208731328724" target="_blank" rel="noopener noreferrer nofollow"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcEppwLdCcPEabosFKN0HXryQgH5SniL5jQ0W70n-2bFDqWslTM9bjmqUS75DWxOXW9JGP5FycT1BgfuTUhOdrp1Daem4mzb9R-4N13YLftc6335mT1PWN8rTstgG06aV6mwREpbA?key=XZllgHuQ4TFh3XMhD8jgUw" alt=""></a>
 <figcaption><strong>Source :Jonathan Carter(X)</strong>
 </figcaption>
</figure>
<p>He stated <a href="https://cryptofrontnews.com/coinbase-invites-doge-members-as-it-joins-sp-500-warns-of-token-scams/" target="_blank" rel="noopener noreferrer nofollow">DOGE may target</a> $0.287 and $0.340, with potential for a larger rise if momentum holds. Another analyst, Ace of Trades, said DOGE appears to have entered the markup phase in a Wyckoff pattern, with targets near $0.34 and higher.</p>
<p>The post <a href="https://cryptofrontnews.com/dogecoin-nears-0-25-as-active-addresses-and/" target="_blank" rel="noopener noreferrer nofollow">Dogecoin Nears $0.25 as Active Addresses and Open Interest Surge</a> appears on <a href="https://cryptofrontnews.com" target="_blank" rel="noopener noreferrer nofollow">Crypto Front News</a>. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.</p>

Dogecoin Nears $0.25 as Active Addresses and Open Interest Surge

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