Dogecoin rises above $0.077 as weekly gains exceed 5%, network activity surges to 50,000 active addresses

Dogecoin traded at around $0.077 after a relatively flat weekend, maintaining its position just above the closely watched $0.075 support level. The popular meme coin saw a weekly increase of over 5%, standing out amid steadying conditions across the broader cryptocurrency market.

Key market data

The total value of the cryptocurrency market rose 1.04% in the past 24 hours to $2.19 trillion. During the same period, Bitcoin, Ethereum, XRP, and Solana registered modest gains. Dogecoin’s movement drew particular attention as it outperformed many others amid this market recovery.

Market analyst Ali Charts noted that active addresses on the Dogecoin blockchain surged to approximately 50,000 as of July 5. This rise suggests growing user participation and transaction activity across the Dogecoin network.

Whale accumulation also continued, with investors holding more than 1 billion DOGE increasing their combined balance to 73.85 billion tokens. Although the number of large transactions dropped to 12 the same day, overall data pointed to major investors expanding their positions.

In the derivatives market, Coinglass data showed DOGE’s trading volume climbed 31% in the last 24 hours to $1.26 billion. However, the size of open interest slightly fell by 0.32% to $1.04 billion, indicating that leverage inflows remained limited despite increased activity.

Glossary: Open interest refers to the total number of outstanding derivative contracts not yet closed. An increase signals new positions entering the market, while a decrease shows existing positions being closed.

Technical outlook and critical levels

The relative strength index currently sits at 51.52, indicating balanced momentum. The Chaikin Money Flow gauge holds at 0.08, supporting the view of modest yet positive capital inflows for Dogecoin.

Analyst Jesse Peralta observed that DOGE is trading within a broad ascending channel, with the price hovering near its lower boundary. In the short term, the $0.075–$0.076 range stands out as the primary support zone.

If Dogecoin holds above $0.075, $0.081 will serve as the next key resistance. A breakthrough at that level could set the stage for a move toward $0.090, $0.10, and $0.12. Conversely, dropping below $0.075 would shift focus to the $0.070–$0.068 range as the next support.

Political statements and market impact

US President Donald Trump expressed a positive stance on cryptocurrencies during a Monday press conference, describing himself as “a big supporter of crypto” and emphasizing that the sector has become a strong and major field.

These remarks further supported optimism in the digital asset market. Ali Charts also signals a TD Sequential buy alert for DOGE on its monthly chart, a technical pattern some investors interpret as waning selling pressure after a prolonged period of weakness. Dogecoin last traded at $0.07648, with the critical $0.075 level remaining essential for the immediate outlook.

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