As it stands, Dogecoin is up against significant resistance at the so-called golden ratio level, around the $0.0815 mark. Should it break beyond this resistance, Dogecoin could exceed its recent peak close to $0.0876.

Around 63% of Dogecoin addresses have reverted to profitability, and their investments are now valued higher than the initial purchase price, Crypto News reports.

Whereas around 21.5% of addresses are still making a loss, with their holdings having a lower value than the cost they were obtained, and 15.4% of Dogecoin addresses are currently at the breakeven level, with holders not making a profit or loss if they were to sell at the current market price.

Furthermore, the Dogecoin network is on a positive path, underscored by the increasing number of addresses holding DOGE. Indeed, there has been an average of around 4.92 million addresses holding Dogecoin over the last 30 days.

This figure has recently increased to 5.02 million addresses, reinforcing the heightened interest in the network, BeInCrypto reports.

Moreover, the Dogecoin network has registered a substantial rise in activity over the past week, with a 341% increase in the creation of new addresses.

There was also a significant 150% rise in the number of active addresses, reflecting mounting transactional activity.

At the same time, there has been a minor shift in the distribution of the largest holders, so-called whales. There are currently nine, one less than the previous count. These addresses, each with at least 1% of Dogecoin’s total supply, collectively hold almost 43% of all Dogecoin.

In contrast, smaller investors, holding under 0.1% of the total supply, make up 35.3% of all DOGE.