Dogecoin Rally Continues as Price Surpasses $0.077 and Network Activity Increases
Key Market Data
The total cryptocurrency market capitalization increased by 1.04% over the past 24 hours to $2.19 trillion. During the same period, Bitcoin, Ethereum, XRP, and Solana posted modest gains. However, Dogecoin stood out by outperforming most major cryptocurrencies amid the broader market recovery.
Market analyst Ali Charts reported that the number of active addresses on the Dogecoin network surged to around 50,000 as of July 5. The increase indicates stronger user participation and higher transaction activity across the network.
According to Ali Charts, the sharp rise in active addresses suggests that fresh momentum may be building for Dogecoin. Whale accumulation also continued, with wallets holding more than 1 billion DOGE increasing their combined holdings to 73.85 billion DOGE. Although the number of large transactions declined to 12 on the same day, the overall data suggests that major investors are still expanding their positions.
Technical Outlook and Key Levels
The Relative Strength Index (RSI) currently stands at 51.52, indicating neutral market momentum. Meanwhile, the Chaikin Money Flow (CMF) remains at 0.08, suggesting modest but positive capital inflows into Dogecoin.
If DOGE manages to hold above $0.075, the next major resistance level is $0.081. A breakout above that level could pave the way for further gains toward $0.09, $0.10, and eventually $0.12. On the downside, a drop below $0.075 would shift attention to the $0.070–$0.068 support zone.
Analyst Celal Kucuker noted that Dogecoin has broken above its long-term downtrend line and successfully retested it. According to him, maintaining this support could open the door for a rally toward $0.12.
Political Remarks Boost Market Sentiment
U.S. President Donald Trump expressed a bullish view on cryptocurrencies during a Monday press conference, calling himself “a big supporter of crypto” and stating that the digital asset industry has become a strong and significant sector.
His remarks further strengthened optimism across the crypto market. In addition, Ali Charts identified a TD Sequential buy signal on Dogecoin’s monthly chart, a technical indicator that some traders interpret as a sign that selling pressure is fading after an extended downtrend.
At the time of writing, Dogecoin was trading at $0.07648, with the $0.075 level remaining a crucial support for its near-term price outlook.
