Dogecoin activity jumps 16% as price steadies near $0.07

Dogecoin (DOGE) has been trading around $0.07, hovering near a three‑year low of $0.067. The token’s monthly Relative Strength Index fell to a record‑low oversold level, the weakest in more than a decade, prompting some analysts to label the price a potential bottom.

On‑chain data shows weekly active addresses rose 16% to roughly 44,000, up from 38,000, indicating renewed user participation. This uptick was noted by analysts such as Ali Charts and Ash Crypto, who highlighted the surge as a bullish signal despite the bearish price pattern.

Institutional interest resurfaced after Franklin Templeton filed a proposal with the U.S. Securities and Exchange Commission to add Dogecoin to its crypto index ETF, a move that could broaden regulated exposure to the meme coin. Meanwhile, spot buying volume reportedly jumped 116%, and Dogecoin whales purchased about 200 million DOGE (≈$14 million) on Robinhood, suggesting continued large‑holder confidence.

Derivatives data showed a long‑to‑short ratio above one and a modestly positive funding rate, hinting that some traders expect a short‑term bounce. Nevertheless, DOGE remains below key moving averages and faces ongoing sell pressure.