Dogecoin has shown signs of recovery in recent weeks. It is noted that if stability is achieved in the cryptocurrency market, DOGE could reach a significant turning point. According to data from the leading analytics platform Santiment, the increase in the number of wallets is striking. However, there is a general decline in developer activities.
Dogecoin Wallet Activity is Increasing
The mobility of Dogecoin investors has significantly increased recently. According to data shared by Santiment, the number of wallets holding at least one million DOGE has risen by 1% since February. The daily active address count has also reached its highest level in the last four months. This development indicates that interest in Dogecoin remains strong and that investors are maintaining their long-term expectations.
Dogecoin has been negatively affected by the fluctuations in the cryptocurrency market over the past two months. However, despite the price drop, the increase in large investors' wallets supports the potential for a strong rise in the future. Analysts believe that if investor interest continues, Dogecoin may exhibit a new price movement in the upcoming period.
DOGE's price is currently around $0.166. Although it is quite far from the peak level of $0.434 reached in 2025, the wallet activity indicates a potential price change.
Developer Activities are Declining
Santiment reported a decrease in developer activities across many projects, including Dogecoin. In recent months, it has been determined that the rate of development has dropped significantly in most of the top ten contributing ecosystems. However, Cosmos and Solana stand out as rare projects showing an increase in development activities amid this situation.
The decrease in developer interest raises questions about the technical development of the Dogecoin ecosystem. Experts emphasize that regular technical developments are critical for the long-term sustainability of a project. Moreover, Dogecoin's community-focused structure helps maintain investor confidence.
Additionally, the Optimism network has emerged as one of the platforms that has seen an increase in developer contributions over the last six months. This indicates that some projects have adopted different approaches in their short-term strategies.