Dogecoin (DOGE) has seen 32% surge in daily active addresses over last 24 hours
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Daily active addresses are a useful measure for monitoring network activity over time. In general, increasing daily active addresses indicate increased blockchain usage, and decreasing daily active addresses indicate decreased network demand. Daily active addresses tend to be correlated with price activity. As a result, daily active addresses can often be added as a leading indicator for price action.
If the rebound sustains, buyers may seek to push the Dogecoin price above the daily SMA 50 at $0.115. If they can do so, Dogecoin might gain momentum and reach the daily SMA 200 at $0.136. A break above the daily moving average might kick-start a fresh uptrend for the Dogecoin price.On the downside, if the price falls below $0.10, it could imply that bears are attempting to gain control. There is little support at $0.
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