Dogecoin (CRYPTO: DOGE) active addresses surged 36% to above 71,400 over the past week, but the token plunged 3% to $0.10258 while Shiba Inu (CRYPTO: SHIB) fell 2% to $0.00000655 as both test critical support levels.
The Activity-Price Disconnect
Dogecoin’s on-chain activity accelerated sharply even as price deteriorated.
The 36% increase in active addresses signals renewed network participation, but activity growth alone doesn’t guarantee upside.
Meanwhile, Dogecoin saw a massive $12.71 million net outflow on February 4th according to Coinglass.
The netflow pattern shows predominantly red bars with only few green spikes, suggesting sustained distribution.
DOGE Technical Breakdown
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