Dogecoin Set for Surge as Transactions Hit 3-Month High—Will the Rally Follow?
Dogecoin’s price could be on the verge of a breakout as network activity soars, with transactions reaching their highest levels in three months. Could this signal the start of a major rally?
Recent data from IntoTheBlock shows Dogecoin processed 1.93 million transactions last week—the most since July—indicating renewed interest. While the price of DOGE has dropped nearly 20% over the past 90 days, this uptick in activity could be a bullish sign.
Despite the surge, transaction levels remain below the early-year highs, suggesting a push toward Dogecoin’s 2023 peak of $0.22 might take some time. Yet, user engagement is climbing, with Santiment data revealing active addresses hit 53,900—another 3-month high. This increased user interaction could translate into further price movement, as more engagement often leads to higher transaction volumes.
Crypto investor Ted Pillows believes Dogecoin’s surge could trigger an altcoin season, noting similarities with previous patterns seen in 2020 and 2021.
“If DOGE starts pumping, prepare for an explosive altseason,” Pillows said, pointing to historical trends. However, Crypto Kaleo sees a longer timeline, predicting DOGE’s major rally might not happen until 2025.
Dogecoin appears to be following the same pattern that led to its 22,000% rise in 2021. If buying pressure increases, a breakout from its current descending triangle pattern could push DOGE up by 461%, potentially reaching $0.56.
However, if the price falls below $0.097, the bullish outlook could be invalidated, possibly leading to a drop to $0.057.
Is DOGE ready to take off, or will the market wait? Keep an eye on these key levels.
