Source: Cointelegraph.com NewsKey Takeaways: <\/p>\n
Dogecoin’s active addresses surged 528% to 469,477.
\nDOGE\u2019s futures open interest rose 70% to $1.65 billion, indicating strong speculative interest.<\/p>\n
On May 13, Dogecoin (DOGE) witnessed a staggering 528% increase in active addresses, soaring from 74,640 to 469,477, signaling robust network activity and growing investor interest. This surge followed an update to 21Shares\u2019 filing for a spot Dogecoin ETF, receiving acknowledgement from the US Securities and Exchange Commission (SEC). The financial services firm confirmed the development on X on May 14. Source: Cointelegraph.com NewsKey Takeaways: Dogecoin’s active addresses surged 528% to 469,477. DOGE\u2019s futures open interest rose 70% to $1.65 billion, indicating strong speculative interest. On May 13, Dogecoin (DOGE) witnessed… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129264"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129264"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129264\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129264"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129264"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129264"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nDogecoin active addresses. Source: GlassnodeThe filing, which aims to track DOGE\u2019s price, aligns with similar efforts by Bitwise and Grayscale, hinting at potential mainstream adoption. This news fueled market optimism, leading to a rise in the memecoin\u2019s network activity.\u00a0
\nAdding to the momentum, Glassnode reported that DOGE futures open interest rose 70% over the past week, climbing from $989 million to $1.65 billion, despite a price pullback from recent highs. This decoupling of open interest and price suggests persistent speculative positioning, a trend Glassnode noted as \u201cworth monitoring\u201d for potential volatility.
\nDogecoin futures open interest. Source: GlassnodeDOGE has also seen strong spot-buyer demand, and Cointelegraph reported that DOGE\u2019s spot taker 90-day cumulative volume delta (CVD) is currently “taker buyer dominant,” reflecting more aggressive buying than selling since early March.
\nThis pattern preceded a 385% rally to $0.48 in Q4 2024. Additionally, the long-term holder net unrealized profit\/loss (NUPL) for DOGE holders (holding at least 155 days) recently surpassed 0.5, indicating an optimistic \u201cbelief\u201d sentiment.
\nWith the network\u2019s activity booming, speculative interest rising, and spot buyers dominating, Dogecoin\u2019s market dynamics are setting the stage for a potential price run to its range highs.
\nRelated: Price predictions 5\/14: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, LINK, AVAX
\nDogecoin price targets $0.40
\nCrypto analyst Trader Tardigrade noted that DOGE has hit a key resistance level around $0.24, with a brief consolidation expected over the next few days. A breakout above this resistance could propel DOGE to $0.40, signaling healthy upward momentum.\u00a0
\nDogecoin analysis by Trader Tardigrade. Source: X.comMeanwhile, Dogecoin proponent Kriss Pax\u00a0highlighted\u00a0an inverse head-and-shoulders pattern on the 1-day chart, suggesting a potential surge to $0.42 with the pattern reflecting a bullish breakout. The trader said,\u00a0
\n\u201cStuck between $0.22 and $0.25. Opportunities for buying dips will come. Some will swing trade. But when $DOGE decides to take off, you will want to be on board.\u201d
\nRelated: Bitcoin bulls aim for new all-time highs by next week as capital inflows soar
\nThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"