Dogecoin (DOGE), the original dog-themed cryptocurrency, might be turning a corner, according to the crypto analytics firm Santiment. Despite the recent crypto market downturn, some positive signals are emerging.
Dogecoin’s Unexpected Strength
Santiment points to a rise in the number of wallets holding at least one million DOGE. This increase, along with a four-month high in daily active addresses, suggests growing interest and potential for a price rebound once the overall crypto market stabilizes. The number of wallets holding over a million DOGE has jumped over 1% since the beginning of February, and March saw daily active addresses exceeding 150,000 on several occasions. Currently, DOGE is trading around $0.166, significantly down from its 2025 high of roughly $0.434.
Development Activity Slows Across Crypto
Looking at the broader crypto landscape, Santiment notes a concerning trend: development activity across the top 10 crypto projects has slowed down in the past month. Most projects have seen a decrease in contributors, with only Cosmos and Solana showing an increase. Over the past six months, Optimism (OP) is the only project to consistently see a rise in contributors.
Disclaimer:
This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies.
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