Dogecoin Flips XRP in Active Addresses as Price Now Targets $0.195

Memecoin DOGE surpassed XRP, the $130 billion altcoin, in terms of daily active addresses, a sign of growing user engagement and network activity. TradingView data showed DOGE addresses jumping 11.2% hourly to 61,190, while XRP’s grew a more modest 8.65% to 47,280 during the same snapshot.

On the other hand, data from CoinMarketCap shows that at the time of writing, XRP is trading at $2.26 following a 7.78% 24-hour surge, while DOGE sits at $0.1816 with an impressive 11.11% rise.

Interestingly, DOGE’s breakout from a technical pattern could explain this surge while derivatives data signals even more upside.

DOGE Targets $0.195 After Breaking Ascending Triangle

Looking at DOGE’s chart, the token broke out of an ascending triangle pattern, a bullish technical formation characterized by a flat resistance line and rising support. The resistance line was near $0.168 which DOGE cleared decisively.

The height of this triangle, pointed out by analyst Ali Martinez, was approximately $0.027 (ranging from $0.141 to $0.168). When this is added to the breakout level, it gives a bullish target of $0.195, which aligns perfectly with the 1.618 Fibonacci extension level near $0.196.

#Dogecoin $DOGE appears to be breaking out of an ascending triangle, with a potential upside target of $0.195! pic.twitter.com/P7dkmIiQ9B

— Ali (@ali_charts) April 22, 2025

However, if DOGE fails to hold above support and breaks down instead, particularly near $0.155, the bearish target would be around $0.128.

On the other hand, the bullish derivatives data provided by Coinglass also contributed to DOGE’s growth. DOGE derivatives volume surpassed $5 billion, up 71.44% in just 24 hours while options volume skyrocketed 289.14% with Open Interest climbing 13.21%.

This explosion in derivatives trading often precedes or accompanies major price moves.

Technical Indicators: RSI and MACD

The Relative Strength Index (RSI) stands at 60.17, inching into bullish territory but not yet overbought. This suggests there’s still room for upside before buyers might become exhausted.

Source: TradingView

The MACD also paints a bullish picture. The MACD line has crossed above the signal line and remains in positive territory, with growing histogram bars confirming strengthening momentum. This crossover is typically viewed as a buy signal and supports the ongoing upward trajectory.

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