$DOGE
🚨 Surging On-Chain Activity: A Positive Sign for DOGE’s Short-Term Price? 🚨
Fueling some optimism for Dogecoin’s May 17 price, Ali Martinez also highlights the surge in its on-chain activity. Daily active addresses are on the rise, pointing to increasing user engagement.
At the same time, transaction volume measured in USD has also seen an uptick, signaling increased capital flow within the Dogecoin ecosystem. Importantly, whale transaction counts for DOGE have climbed, indicating that large holders–often referred to as smart money–are becoming more active.
While spikes in on-chain metrics and whale activity can historically precede various types of significant DOGE price movements, the current uptrend in these figures could be viewed as a supportive factor for Dogecoin’s immediate price potential as May 17 approaches.