• Dogecoin activity climbs to 71,400, showing renewed network participation.
• Price remains in a descending channel, struggling to break resistance levels.
• Crowded longs and negative funding create fragile conditions for DOGE’s next move.

Dogecoin — DOGE, recently recorded a sharp rise in network activity, with Active Addresses jumping 36% to over 71,400. This surge reflects renewed interest from traders and casual users alike. While the numbers look promising, the broader market remains uncertain, leaving the next price move unclear. Traders are now watching closely to see whether growing participation can translate into sustained demand or if DOGE will stay confined by ongoing market pressures.

Rising On-Chain Activity Shows Interest, Not Guarantee

The recent spike in addresses shows more users are engaging with Dogecoin, but activity alone cannot drive price. Historically, similar participation surges often led to short-term consolidation or gradual price shifts rather than immediate rallies. The jump in activity highlights curiosity near compressed price levels, suggesting traders remain alert. As more users enter the network, demand pressure could grow, but leverage and external market sentiment still dictate how far DOGE can move.

Dogecoin price remains trapped inside a descending channel, showing persistent lower highs since late 2025. The price recently slipped below $0.117, briefly testing the $0.108 region before stabilizing above $0.10. Sellers continue holding the upper hand, though repeated support defenses near channel lows have reduced downside momentum. Resistance around $0.156 and $0.20 still caps recovery attempts, keeping DOGE within a tight compression zone rather than a full breakdown.

Momentum indicators hint at cautious stabilization. The daily RSI sits near 35 after weeks of selling, signaling oversold-adjacent conditions. Although the RSI stopped printing lower lows, momentum remains weak, indicating consolidation instead of a strong reversal. Traders holding positions near the $0.10 level may find support absorbing gradual selling, but upside remains limited unless broader demand picks up.

Crowded Longs and Funding Stress Create Fragility

Binance derivatives data shows top traders remain highly bullish despite weak price structure. Long accounts climbed to roughly 75%, and the Long/Short Ratio reached around 3.0. This signals strong directional conviction, but also higher vulnerability to sudden volatility. Meanwhile, OI-weighted funding rates flipped negative at approximately -0.0002%, reflecting leverage strain among long holders.

Negative funding often signals tension rather than full bearish control. Still, prolonged pressure combined with crowded longs can trigger forced deleveraging if price dips further. Traders now face a delicate balance. Either DOGE stabilizes to relieve funding stress or volatility could spike sharply, creating rapid price swings.

For now, growing on-chain activity offers cautious optimism. Participation-led support may gradually absorb selling pressure above $0.10. However, crowded bullish positions and negative funding leave little room for error. The network shows resilience, yet the next phase depends on whether demand can overcome leverage-driven vulnerability.