What’s Next For Dogecoin Price as Active Addresses Soar 800% Amid DOGE ETF Hype?
By: bitcoin ethereum news|2025/05/16 07:45:05
0
Share
Dogecoin (DOGE) is defending the $0.20 support level after the SEC’s move to acknowledge 21Shares’ DOGE ETF filing sparked hope of a recovery despite the market-wide pullback. Daily active addresses have soared to a multi-month high, but with Dogecoin price down by 5% in 24 hours to trade at $0.22 at press time, what’s next for the meme coin? Dogecoin Price Defends $2.20 as Active Addresses Hit 674,000 DOGE price dropped to $0.22 on Thursday after falling from an intraday high of $0.238. The dip coincided with Bitcoin’s drop to $101,000, which triggered fear of a return to sub-$100K levels and the end of the recent bull run. However, DOGE traders remain relentless after the daily active addresses surged by more than 800% in the last two days from 74,000 to 674,000. These addresses are at the highest level since November 2024. This increase points toward a massive surge in Dogecoin’s network usage and speculative behaviour. It may also suggest that some traders are accumulating the dip, highlighting confidence that a Dogecoin price breakout is looming. The surging daily active address count also coincides with high Dogecoin open interest, which shows that trader interest is still at peak levels and that the bullish momentum has not subsided. The rising number of active addresses is linked to two factors: hype around a spot DOGE ETF approval and the launch of cbDOGE products on the Coinbase exchange. DOGE ETF Hype Soars After SEC Update Earlier this week, the SEC acknowledged 21Shares’ filing to offer a spot DOGE ETF product, and this is driving bullish momentum towards the Dogecoin price. This acknowledgement places the product closer towards approval, as the DOGE community looks up to the October deadline. The move has seen the odds of a spot DOGE ETF gaining approval in 2025 soaring to 68% on Thursday, which is the highest level in nearly two weeks. Data from Polymarket also shows that 24% of traders anticipate approval by July 2025. President Trump’s pro-crypto administration and the confirmation of Paul Atkins as the SEC Chair have increased the odds of more altcoin ETFs launching in the US. Bloomberg notes that Dogecoin has the fourth-highest chance of gaining approval after Litecoin, Solana, and XRP. Coinbase cbDOGE Launch Drives Market Interest Coinbase has teased the launch of cbDOGE wrapped tokens on the Coinbase layer two network, which is also spiking the market interest towards Dogecoin. In a recent X post, Coinbase stated, “cbADA, cbDOGE, cbLTC, cbXRP coming soon. These assets are not yet live or available. We will announce their launch at a later date.” These products have yet to launch, but DOGE holders anticipate they will drive a bull run for Dogecoin price. Once live, cbDOGE will be used to conduct DeFi activity on Base, which is currently the 6th largest DeFi network with $4.74 billion in TVL per data from DeFiLlama. DOGE Price Analysis as MACD Buy Signal Emerges Dogecoin price eyes a continuation of the current bullish trends as it attempts to make a decisive weekly close above the neckline resistance of a rounding bottom pattern. If it confirms this breakout, it will trigger an 84% rally to $0.44 in the coming weeks. The MACD supports the bullish Dogecoin price prediction highlighted in the weekly chart as the MACD line tips north and teases a crossover above the signal line. Doing so will create a buy signal that will push DOGE higher, considering that the last time this signal emerged, the price increased over fivefold. However, for this bullish trend to hold, the RSI needs to continue rising and form a series of higher highs above 50. Currently, the RSI has stalled at the zero line, indicating that the buying pressure is weak. Therefore, as the number of active DOGE addresses spikes, a bullish momentum is likely next for Dogecoin price as it shows rising demand and speculative activity. The rising addresses come amid hype around a spot DOGE ETF approval and the launch of cbDOGE products on the Coinbase exchange. Frequently Asked Questions (FAQs) Dogecoin price eyes further upside after the active addresses surged by 800%. The surge shows high demand and rising network usage. The SEC may approve a spot DOGE ETF, with Bloomberg analysts giving an 80% chance that this happens. If accumulation and buying pressure return, it is likely that DOGE price surges to as high as $0.40 as depicted by a rounding bottom pattern. ✓ Share: muthoni Muthoni Mary is a seasoned crypto market analyst and writer with over three years of experience dissecting blockchain trends, price movements, and market dynamics. With a sharp eye for technical analysis and an in-depth understanding of on-chain metrics, she delivers insightful, data-driven content that helps investors navigate the fast-paced world of digital assets. Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss. Source: https://coingape.com/markets/whats-next-for-dogecoin-price-as-active-addresses-soar-800-amid-doge-etf-hype/
You may also like

B.AI partners with MiniMax to launch a limited-time free experience of M3, enabling zero-threshold implementation of Agentic productivity through full-stack infrastructure
B.AI and MiniMax launch a limited-time free offer for M3, allowing access to top-tier large model core computing power with no threshold.

The second half of the computing power battle: Intel CEO Pat Gelsinger reveals how AI is reshaping the global semiconductor supply chain
Intel CEO Pat Gelsinger's latest discussion: The AI computing power battle has gone beyond the single-point competition of GPUs; the ultimate trump card is to comprehensively restructure the semiconductor supply chain and solve the systemic bottlenecks in advanced manufacturing.

WEEX Live mode: Monitor 20 trading pairs at once and trade like a pro
WEEX Live mode: Multi-screen desktop layout for 20 pairs, TradingView charts, one-click layout, and smart guides. Trade like a pro now.

Morning Report | Secret Network loses $4.67 million due to cross-chain vulnerability; Michael Saylor releases Bitcoin Tracker information again, may disclose increased holdings data next week
Overview of Important Market Events on June 21

Kalshi's biggest competitor is not Polymarket
The competitive logic of the prediction market has changed.

WEEX Makes Affiliate Access Easier on the Web and in the App
WEEX now provides a smoother way to access affiliate-related pages on the web and in the app. Users can find the Affiliate entry more easily and go to the right page based on their login and affiliate status.

Customize Your Spot Trading Page: Drag Modules and Move the Order Panel Where You Want It
Set up your WEEX Spot trading page around the way you trade. Drag supported modules, show or hide key panels, move the order panel to the left or right, and use “Reset layout” at any time to return to the default setup.

Perp DEX: The Next Generation Exchange "War"
This "war" has just begun.

10 Counterintuitive Insights on Latin American Payments
10 conclusions about payments that contradict mainstream beliefs: crypto cards rely on high-net-worth individuals rather than retail, QR codes are replacing cards, stablecoin profits are competing to go to zero, and Latin American regulation is actually 5 years ahead of the United States.

The AI gamble of mining companies: Valuations enter a phase of differentiation, and it's hard to turn the tide
This gamble of transforming into AI is testing the financial strength and execution capability of mining companies.

A letter from Alliance to entrepreneurs: Written on the occasion of Cursor selling for 60 billion dollars
Great companies are forged before they become obvious.

Stablecoins Finally Find Real Returns: On-Chain Reinsurance Re Explained | Interview with Re Founder Karan Saroya
This on-chain reinsurance platform absorbs stablecoins from DeFi, uses them as collateral to underwrite for American insurance companies, collects premiums, and returns the profits to on-chain depositors.

The impossible triangle is simply a pseudo problem
A long time ago, the cryptocurrency industry found its true purpose. But ironically, the path it built for this purpose excluded almost everyone who would actually use it.

Will MicroStrategy fall into a death spiral? What will the macro trend be in the second half of the year?
The cryptocurrency industry may gradually shift from the hype of native altcoins to real asset tokenization, on-chain machine economy, and a more mature industrialization phase.

Blockchain Capital Partner: The Core Secret of Arbitrage
On cold starts, breaking the circle, and the toughest hurdle for founders to overcome.

STRC unanchored by 11%, can the perpetual motion machine of Strategy still operate?
Beyond the leverage crunch, what is even more concerning is the liquidity reserves of the Strategy.

Bitcoin Market Analysis 2026: Can BTC Reach $150K by Year-End?
Bitcoin price prediction 2026: Can BTC hit $150,000 by year-end? Explore Fed policy, Kevin Warsh's stance, Bitcoin ETF flows, exchange data, and BTC market forecasts.

Bitcoin ETF Outflows Hit a Record $4.4 Billion: What Are Traders Doing With Their Cash?
Bitcoin ETFs lost $4.4 billion over 13 trading days, raising questions about market sentiment and Bitcoin's bottom. Here's what Standard Chartered is watching and how traders are managing idle stablecoin balances during uncertain markets.
B.AI partners with MiniMax to launch a limited-time free experience of M3, enabling zero-threshold implementation of Agentic productivity through full-stack infrastructure
B.AI and MiniMax launch a limited-time free offer for M3, allowing access to top-tier large model core computing power with no threshold.
The second half of the computing power battle: Intel CEO Pat Gelsinger reveals how AI is reshaping the global semiconductor supply chain
Intel CEO Pat Gelsinger's latest discussion: The AI computing power battle has gone beyond the single-point competition of GPUs; the ultimate trump card is to comprehensively restructure the semiconductor supply chain and solve the systemic bottlenecks in advanced manufacturing.
WEEX Live mode: Monitor 20 trading pairs at once and trade like a pro
WEEX Live mode: Multi-screen desktop layout for 20 pairs, TradingView charts, one-click layout, and smart guides. Trade like a pro now.
Morning Report | Secret Network loses $4.67 million due to cross-chain vulnerability; Michael Saylor releases Bitcoin Tracker information again, may disclose increased holdings data next week
Overview of Important Market Events on June 21
Kalshi's biggest competitor is not Polymarket
The competitive logic of the prediction market has changed.
WEEX Makes Affiliate Access Easier on the Web and in the App
WEEX now provides a smoother way to access affiliate-related pages on the web and in the app. Users can find the Affiliate entry more easily and go to the right page based on their login and affiliate status.
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com




