Dogecoin October Trend: More Active Users, Higher Prices?

• Active addresses increased more in October than in other months.
• Prices continued to move above key areas.

Dogecoin [DOGE] has been gaining attention lately due to an increase in pricing and network activity. With an increase in active addresses and notable net inflows, analysts are closely monitoring DOGE’s potential for sustained bullish momentum.

Dogecoin Address Activity Drives Price Momentum

A significant increase in active address activity has fueled Dogecoin’s recent price rally. Data from In the block shows a sharp increase in active addresses, closely following the price trend of the coin.

An increase in active addresses generally indicates growing interest and transaction activity on the Dogecoin network, suggesting a broader participation base among holders and traders.

This increase in address activity aligns with DOGE’s price action, creating a network effect in which increased on-chain activity builds market confidence and reinforces price stability.

Source: In the block

This trend highlights a strong support level as more users actively engage with Dogecoin. The correlation between active address growth and price action implies that increased network usage is contributing to DOGE’s current rally, reflecting healthy demand for the asset.

Growing Dogecoin Net Inflows and Interest from Large Miners

Another important factor in Dogecoin’s positive outlook is the increase in net inflows of DOGE tokens on exchanges. Over the past few months, net inflows have increased sharply, indicating a higher volume of DOGE deposits on exchanges than withdrawals.

In most cases, net inflows suggest that traders and large holders are preparing to sell or engage in high volume trades. However, the market has absorbed recent Dogecoin inflows without increasing volatility, demonstrating strong buying interest and market resilience.

Additionally, analysis of the activity of large operators shows a positive sentiment among key stakeholders. Large inflows from large holders, including institutions and “whales,” can be a bullish indicator, as their buying activity demonstrates confidence in DOGE’s potential.

This influx of large investments provides a price cushion, stabilizing DOGE’s recent gains and reducing the risk of a selloff.

Source: In the block

Technical indicators signal continued upside potential

Dogecoin’s technical outlook also supports a bullish scenario. The Moving Average Convergence Divergence (MACD) indicator shows a recent move into positive territory, signaling a potential change in momentum.

The green bars of the histogram, aligned with increasing volume and active address growth, reinforce the technical trend toward continued price growth.

Source: TradingView

Additionally, the 50-day moving average has crossed above the 200-day moving average, creating a golden cross, generally considered a long-term bullish indicator in technical analysis.

This trend suggests a stronger upward trend that would expand further if addressing activity and net inflows remain stable.

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Dogecoin price action and key network indicators reflect a strengthened market position.

As it continues to attract attention from retail and institutional investors, DOGE’s ability to sustain its recent rally will largely depend on maintaining this level of engagement and support across the market.