Dogecoin Shows Signs of Bullish Reversal

The original dog-themed memecoin, Dogecoin (DOGE), is indicating potential bullish reversal signals according to leading crypto analytics platform Santiment.

According to Santiment, DOGE is signaling a potential turning point as crypto markets stabilize, especially evident in the increasing number of wallets.

> “Dogecoin, like most meme coins, has been hammered during the two-month crypto-wide retrace. However, we recommend keeping an eye on the rising level of wallets holding at least one million DOGE, which has recovered during the price dump. Active addresses are also at four-month highs.”

Santiment reports that wallets holding over one million DOGE have increased by more than 1% since February. March has shown spikes in address activity, with more than 150,000 active addresses per day.

At the time of writing, Dogecoin is trading at $0.166, about 62% lower than its 2025 high of around $0.434.

Decline in Development Activity

In terms of development activity among leading crypto projects, Santiment notes a decline in the number of contributors in the past month.

> “If we switch the perspective and zoom in to just the past one month, it’s a bit discouraging to see that every ecosystem in the top 10 has taken their foot off of the gas. Development activity events have declined across the board, with only Cosmos and Solana seeing a rise in contributors.”

Over the past six months, the only ecosystem recording a rise in contributors is the layer-2 scaling solution, Optimism (OP).