Dogecoin returns to key long term support at $0.077 as active addresses approach 50,000

Dogecoin’s price has once again reached a major long term support zone, a level that has historically marked cycle bottoms in recent years. This particular area has acted as a floor during significant market corrections over the past three years. Now, all eyes are on whether buyers can defend this level once more and potentially trigger a reversal.

Historic support area back in focus

Crypto analyst Chiefrat notes that Dogecoin (DOGE) has fallen back to a macro-level support area considered critical for its price stability. This region became prominent as a bottoming zone during market downturns in 2022, 2023, and 2024, making it an important inflection point for traders closely monitoring DOGE’s price reaction.

At the time of reporting, DOGE was trading at $0.07744, with a 24-hour trading volume of $524.86 million and a market capitalization of $13.21 billion. Despite mostly flat price movement in the last 24 hours, the technical outlook continues to fuel expectations for a possible shift in trend.

According to analysts, if DOGE manages to hold above this support, the first technical target lies at $0.28. Should the outlook improve further, a long-range scenario could see the price reach $0.45 by 2026. However, these levels remain potential targets rather than guaranteed outcomes, resting heavily on shifting technical signals.

On-chain activity sees notable uptick

Another analyst, Ali Charts, brings attention to the sharp increase in active addresses on the Dogecoin network. Data shows that the number of active wallet addresses is closing in on the 50,000 threshold, a sign many view as evidence of strengthening user engagement on-chain.

Mini glossary: An active address refers to a wallet address that has initiated a send or receive transaction within a specified period. Though this metric alone does not guarantee a price move, it is widely used to track changes in overall network activity.

The drivers behind this rise in active addresses remain unclear. However, it is interpreted by some as a sign of renewed investor interest. While participants see the increase in on-chain strength as a positive, experts caution that heightened activity does not necessarily translate into immediate price gains.

Next move hinges on support strength

Dogecoin’s next major price direction will largely depend on whether the long-term support level remains intact. If the uptick in active wallets is accompanied by stronger buying, the price could attempt a move towards resistance zones. Conversely, a decisive break below support may intensify selling pressure on DOGE.

The ongoing balance in the market is also shaped by the flat performance of Bitcoin. Bitcoin’s current stability continues to play a defining role in steering short-term price action not only for Dogecoin, but also for the broader altcoin market.

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