Dogecoin Active Skyrockkets 990 % treats a week

Dogcoin is witnessing a return to activity and investor interest, indicating the early signs of a possible new bull course for the DOGE price.

Meanwhile, the broader encryption market remains bullish, as ETHEREUM (ETH) exceeds bitcoin, leading to speculation that the Altcoin season may be imminent.

Dogecoin network records height: What pays the increase?

The data on Glassnode shows that the active headlines rose from 61,892 on May 7 to 674,527 as of May 14. This represents an increase of approximately 990 % per week, indicating the renewal of the user’s participation and the volume of transactions.

Dramatic rise in Futures The market interest is accompanied by this increase in the use of the network. According to modern data, open interest (OI) jumped at Doge Futures by more than 66 % during the past week. Specifically, it increased from 989 million dollars to $ 1.65 billion between 7 and 14 May.

The sharp increase in the positions learned indicates the increasing and expectation of trading confidence Volatile.

More momentum supply is Coinbase’s advertisement on upcoming Dogecoin support on Base. Coinbase assets revealed that CBDOGE, a wrapped version of Dogecoin, is among the many symbols that will be released soon on Base, Coinbase’s Solve layer 2.

“CBADA, CBDOGE, CBLTC, CBXRP is coming soon. These assets are not alive or yet. We will announce their later launch,” Coinbase assets subscriber In the May 14 update.

Although the date of launch has not been completed yet, the movement indicates an increase in the support of the institutional system and the DOGE ecosystems.

Wrapped assets increase the benefit of the distinctive symbol by enabling Serial exchange chain and Defi Use cases, and may open new demand flows. Coinbase already has a file Bitcoin cabbage file cabbageCBBTC, which achieved a The market capacity of $ 1 billion in 57 days.

As the base continues, CBDOGE can bring more liquidity and exposure to a king Mimi currencies. Coinbase did the same with CBBTC. He – she I launched the original support for the Bitcoin product on SolaaExpanding access to Bitcoin for users in this process.

Analysts seem to be more upward as well. Galaxy, who is a well -followed encryption market, suggested that the price of the “Third Taurus” may enter the third bull. An analyst refers to the familiar style of Dogecoin that flies under the radar before a rapid increase in attention and price.

“Can I present to you Dog. There is another case of” no one talks about it until everyone talks about it, “Galaxy, Galaxy books In a post on X (Twitter).

Dogecoin has challenged expectations over and over again during previous encryption cycles. High -level approvals, especially from Elon Musk, have been well clarified for the price of DOGE in the past.

but, The effect of musk on Mimi currencies is dissipatedand Departure Dukwin in the hands of investors.

The recent increase in Dogecoin indicates the network activity, the attention of derivatives, and infrastructure developments that the distinctive symbol may prepare the moment of the other spotlight.

If this trend continues and the success of Coinbase CBDOGE at the base, Dogecoin may benefit from increased Defi integration, trading volume, and renewed audience’s attention.

However, there are still risks, including the overall opposite winds, which means that investors must make their research.