Dogecoin Activity Rises As SpaceX IPO Rumors Spark Interest

Dogecoin has seen a clear increase in network activity over the past week, with engagement rising by around 28%. Even with this growth, the price has not yet followed, and the market remains relatively stable for now.

According to Ali Martinez, the number of active Dogecoin addresses increased from roughly 57,000 to 73,000. This type of movement usually points to stronger participation from users. In many cases, rising activity reflects growing interest, though part of it may come from users moving funds or testing features rather than long term investing. Even so, higher engagement tends to improve overall sentiment.

Looking at the price structure, Dogecoin is currently forming a descending triangle pattern. This means the price range is tightening, and a breakout is likely to happen soon. These patterns often lean toward a downside move, but that is not always the case. Right now, the asset is still holding above key support levels, and traders are waiting for a clearer signal before taking stronger positions. If the resistance level is broken, analysts suggest the price could move by around 29%.

Technical indicators show a mixed situation. The Relative Strength Index is sitting near 34, which is close to oversold territory and can sometimes signal a potential bounce. At the same time, the MACD is losing momentum, which may indicate that selling pressure is slowing down.

There is also a possibility that the market is entering an accumulation phase. In the past, increases in active addresses have often appeared during periods when investors quietly build positions. If activity continues to grow while the price remains relatively low, this could support that idea. At the moment, Dogecoin is trading in a narrow range between $0.089 and $0.091. A move above $0.10 could open the door to higher levels such as $0.105 and $0.12.

At the same time, broader market attention is being influenced by reports that SpaceX is preparing for a major IPO that could raise around $75 billion. If confirmed, this would be one of the largest offerings ever. The company is expected to allow some participation from retail investors while keeping control among insiders, including Elon Musk. Some analysts believe the listing could happen as early as June, with earlier comments pointing to a potential valuation of $1.75 trillion.

There has also been renewed discussion about a possible future link between SpaceX and Tesla. Analyst Dan Ives has suggested that a merger between the two companies could take place around 2027, as their operations continue to become more connected. One example is the planned Terafab facility in Texas, where advanced chip production will support both Tesla’s AI systems and SpaceX’s space related data infrastructure.

Overall, while Dogecoin’s price has not yet reacted, the rise in network activity combined with major developments in the tech and space sector is bringing more attention to the market. If momentum continues to build, a stronger move could follow.