Key Takeaways:
- Dogecoin saw a 528% increase in active addresses, renewing user interest and increasing the market activity.
- The meme community expects Doge to exhibit a breakout to $1 per coin, following the anticipated ETF approvals.
- Despite the optimism in an uptrend, regulatory risks, whale activity, and market volatility could hinder DOGE’s growth.
Dogecoin, web3’s most famous memecoin, has exhibited a dramatic increase in its active addresses, surging 528% on May 13th, 2025. While various market experts expect a surge in price due to an increase in active addresses, others consider it just a normal happening that will not have an impact on its prices.
This month alone, DOGE exhibited a 42% increase in its price, coinciding with the rise in wallets. The surge in both is linked with usual memecoin speculative movements and also the regulatory optimism floating around.
Reasons for the Increase in Active Addresses
Four Dogecoin ETFs have been filed in the U.S. lately, which are under review by the Securities and Exchange Commission (SEC). According to various market experts, this is the reason for DOGE’s increased activity. The open interest in DOGE’s futures also witnessed a significant increase of 70% in the past week.
The on-chain and exchange data also reveal that the spot demand has been on the rise, signalling a breakout. If the ETFs are approved, DOGE will be opened to institutional investors and whale traders, potentially creating an important milestone of $1 per coin.
Dogecoin’s Price vs Address Count: A Detailed Comparison
There is a general consensus that the price increases with an increase in the number of wallet addresses. But this is not always the case. The table below details the address count and the approximate higher price over the years.
| Year | Higher Address Count | Average Higher Price | Details |
| 2014 | 5 million | $0.0005 | Beginning year |
| 2015 | 7 million | $0.0002 | Community growth |
| 2016 | 8.5 million | $0.0003 | User growth |
| 2017 | 12 million | $0.01 | Altcoin boom |
| 2018 | 16 million | $0.015 | 2017 bull trend fades |
| 2019 | 20 million | $0.003 | The accumulation phase started |
| 2020 | 26 million | $0.004 | Accumulation continues |
| 2021 | 46 million | $0.50 | The dramatic Elon Musk-driven rally |
| 2022 | 55 million | $0.08 | Bear phase |
| 2023 | 60 million | $0.10 | Survival from the bear phase |
| 2024 | 70 million | $0.22 | ETF speculation |
| 2025 | 80 million | $0.15 | Active address increase |
Will History Repeat with Dogecoin?
Dogecoin appears to be gaining traction based on the recent rise in both price and active addresses, and the traders and the community are hopeful based on these movements. Because of its community support, KOL influence, and meme-driven appeal, DOGE has historically flourished in speculative situations.
Dogecoin now has perfect circumstances to exhibit another incredible bull run, potentially reaching the $1 mark. However, there are various hindrances to achieving this, including
- Regulatory Issues: If the SEC rejects the ETF filings, selling pressure will increase, igniting a dump in the market.
- Market Correction: A major correction, possibly influenced by Bitcoin and Ethereum, could drive DOGE’s prices down.
- Memecoin Identity: As a memecoin, DOGE is prone to heavy pump and dump in the charts. So, it is very hard for it to exhibit a sustainable uptrend.
- Whale Activity: DOGE’s supply is inflationary, and the wallet allocation is highly concentrated.
Final Thoughts: Is a $1 Mark Possible for DOGE?
Unlike the previous bull runs purely based on high-level speculative marketing and viral tactics, the 2025 scenario is more mature and technologically advanced. While a 528% increase in active addresses is a strong indication that the meme niche is reviving, Dogecoin is notorious for exhibiting contradictory movements in the charts.
For DOGE to reach $1, it should increase its market cap by at least five times, which is practically impossible unless its community employs aggressive marketing strategies. Ultimately, the token’s future will be shaped by investor behaviour, macroeconomic conditions, and regulatory clarity.