DOGE: High volume and whale activity may lead to price increase (DOGE)

Key indicators on the blockchain now suggest that interest in the well-known meme coin DOGE may be increasing. According to Alibaba, three main metrics on the DOGE network are rising: the number of active addresses, the volume of transactions, and the participation of large investors.
Investors view these increases as a positive signal, which may drive the further rise of DOGE prices.
Alibaba's chart shows that DOGE is gaining new momentum.
Recently, Alibaba released a chart that shows the changes of the above variables over the past few weeks. Dogecoin (DOGE) began to show monthly growth in late April and peaked slightly above $0.22 in mid-May.
At the same time, the number of daily active addresses surged, indicating that more people are actively sending or receiving DOGE tokens. The purple line in the chart represents active addresses, showing a peak between May 10 and 12, suggesting increased interest in purchasing this meme coin.
volume increases with rising prices
In addition to the increase in the number of addresses, the volume of DOGE, measured in US dollars and displayed in red, has also risen significantly. This indicates that not only are people using DOGE more frequently, but they are also transferring more of this cryptocurrency.
This reflects the pattern of whales typically operating by conducting large volumes of trades. The whale activity represented by the orange bars in the chart significantly increased in May and reached higher levels before the price recently peaked.
Although the price of DOGE slightly retreated to $0.208 as of May 16, 2025, this increased activity indicates that the network remains strong. The simultaneous increase in activity from ordinary traders and large traders suggests that DOGE may have even greater potential.
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