Dogecoin (DOGE) Network Activity Surges to 3-Month High Despite Sideways Price Movement

The Dogecoin network is witnessing a significant spike in activity, reaching its highest level in three months. On-chain data reveals a notable increase in the number of active addresses and transaction volume, indicating growing user engagement and network utilization. This surge in fundamental activity often precedes potential price volatility. However, despite this bullish on-chain signal, the DOGE price has continued to trade within a familiar range, showing resistance to break out of its consolidation pattern. Market analysts suggest that while increased activity is a positive fundamental indicator, the price remains constrained by broader market sentiment and key technical resistance levels. The divergence between rising network usage and stagnant price action presents a classic scenario watched by traders for a potential catalyst that could trigger the next major price move for the popular meme cryptocurrency.