The active addresses of Dogecoin have seen a significant spike, indicating a bullish outlook for the meme coin.
The number of active addresses increased by 47% in the past month, rising from 110,000 to 163,000.
The surge in active addresses suggests a rise in DOGE's utility, potentially leading to a significant rally in its price.
Crypto analysts suggest that Dogecoin may have already reached the bottom and could see a bullish reversal if it breaks above the $0.17 resistance level.