Dogecoin Holds Around $0.14 as Network Activity Hits Three-Month High
Dogecoin has maintained a roughly $0.14 floor within a tight trading range between $0.1406 and $0.1450. Analysts have identified a breakout above $0.16 as a critical threshold for the cryptocurrency's next significant move.
On December 3, the daily active addresses for Dogecoin reached 67,511, marking the second-highest level in three months and signaling renewed user participation in the network. Concurrently, trading volume spiked to 465.9 million at 01:00 GMT, representing about 68% above the 24-hour simple moving average (SMA), which indicates rising institutional interest around the range lows.
Technical indicators show the MACD curves are converging toward a bullish cross, while price action exhibits higher lows within a contraction pattern. This suggests accumulation rather than distribution among market participants.
Dogecoin celebrated its 12th anniversary on December 6, although market reaction remained muted, focusing instead on technical trends and network activity metrics.
Traders should monitor volume expansion above $0.145 or a drop below $0.140 as potential triggers for the cryptocurrency's next directional move. Failure to hold the $0.14 level could lead to a price decline toward deeper on-chain support near $0.081, based on UTXO realized distribution clusters.
