“Something is brewing” for Dogecoin (DOGE) as network activity explodes

Another analyst, however, said that no one really cares about the OG meme coin right now.

Momentum in meme coins has largely evaporated from the highs of a few weeks ago, although some are still making waves. However, most turn out to belong to a few wallets which then pounce on unsuspecting investors.

The situation of the leader of this niche is quite interesting. It is still a major cryptocurrency with a market capitalization in the billions of dollars, but it has fallen out of favor with investors as interest in it has waned. Or does he have it?

Something is brewing

Popular crypto analyst Ali Martinez, citing data from Glassnode, reported earlier today that network activity on Dogecoin increased by almost 50,000 active addresses. The graph below shows the rapid increase in late June and early July, from less than 40,000 to the aforementioned number.

Martinez noted that “something is brewing” for DOGE just a day after posting that the TD Sequential metric had issued a major buy signal for the asset. The OG meme coin is up 3% weekly, but it has fallen 11% over the past month, alongside most of the crypto markets. However, the TD Sequential and growing network activity could be the start of something more lasting.

Dogecoin $DOGE network activity has exploded to nearly 50,000 active addresses!

Something is brewing. pic.twitter.com/FCf1m8D3oV

— Ali Charts (@alicharts) July 5, 2026

Does anyone still care?

Fellow analyst Daan Crypto Trades also weighed in on DOGE’s price movements and admitted that “no one really cares about this coin right now.” However, he said he is still monitoring it closely, especially if it heads towards its long-term support zone in the $0.05 range.

He added that other crypto assets will perform better during this cycle (or the next), but DOGE is “still the one that tends to be reliable for a decent rebound once a bear market bottom is reached.”

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Meanwhile, Celal Kucuker was much more optimistic, stating that DOGE has “one of the cleanest charts in crypto.” The analyst predicted that the meme coin could explode to $1.00, which would represent a new all-time high, as it was unable to reach these levels during the 2021 Musk-led hype cycle.