Dogecoin (DOGE) is defending the $0.20 support level after the SEC’s move to acknowledge 21Shares’ DOGE ETF filing sparked hope of a recovery despite the market-wide pullback. Daily active addresses have soared to a multi-month high, but with Dogecoin price down by 5% in 24 hours to trade at $0.22 at press time, what’s next for the meme coin?

Dogecoin Price Defends $2.20 as Active Addresses Hit 674,000

DOGE price dropped to $0.22 on Thursday after falling from an intraday high of $0.238. The dip coincided with Bitcoin’s drop to $101,000, which triggered fear of a return to sub-$100K levels and the end of the recent bull run.

However, DOGE traders remain relentless after the daily active addresses surged by more than 800% in the last two days from 74,000 to 674,000. These addresses are at the highest level since November 2024.

This increase points toward a massive surge in Dogecoin’s network usage and speculative behaviour. It may also suggest that some traders are accumulating the dip, highlighting confidence that a Dogecoin price breakout is looming.

The surging daily active address count also coincides with high Dogecoin open interest, which shows that trader interest is still at peak levels and that the bullish momentum has not subsided.

The rising number of active addresses is linked to two factors: hype around a spot DOGE ETF approval and the launch of cbDOGE products on the Coinbase exchange.

DOGE ETF Hype Soars After SEC Update

Earlier this week, the SEC acknowledged 21Shares’ filing to offer a spot DOGE ETF product, and this is driving bullish momentum towards the Dogecoin price. This acknowledgement places the product closer towards approval, as the DOGE community looks up to the October deadline.

The move has seen the odds of a spot DOGE ETF gaining approval in 2025 soaring to 68% on Thursday, which is the highest level in nearly two weeks. Data from Polymarket also shows that 24% of traders anticipate approval by July 2025.

President Trump’s pro-crypto administration and the confirmation of Paul Atkins as the SEC Chair have increased the odds of more altcoin ETFs launching in the US. Bloomberg notes that Dogecoin has the fourth-highest chance of gaining approval after Litecoin, Solana, and XRP.

Coinbase cbDOGE Launch Drives Market Interest

Coinbase has teased the launch of cbDOGE wrapped tokens on the Coinbase layer two network, which is also spiking the market interest towards Dogecoin. In a recent X post, Coinbase stated,

“cbADA, cbDOGE, cbLTC, cbXRP coming soon. These assets are not yet live or available. We will announce their launch at a later date.”

These products have yet to launch, but DOGE holders anticipate they will drive a bull run for Dogecoin price. Once live, cbDOGE will be used to conduct DeFi activity on Base, which is currently the 6th largest DeFi network with $4.74 billion in TVL per data from DeFiLlama.

DOGE Price Analysis as MACD Buy Signal Emerges

Dogecoin price eyes a continuation of the current bullish trends as it attempts to make a decisive weekly close above the neckline resistance of a rounding bottom pattern. If it confirms this breakout, it will trigger an 84% rally to $0.44 in the coming weeks.

The MACD supports the bullish Dogecoin price prediction highlighted in the weekly chart as the MACD line tips north and teases a crossover above the signal line. Doing so will create a buy signal that will push DOGE higher, considering that the last time this signal emerged, the price increased over fivefold.

However, for this bullish trend to hold, the RSI needs to continue rising and form a series of higher highs above 50. Currently, the RSI has stalled at the zero line, indicating that the buying pressure is weak.

Therefore, as the number of active DOGE addresses spikes, a bullish momentum is likely next for Dogecoin price as it shows rising demand and speculative activity. The rising addresses come amid hype around a spot DOGE ETF approval and the launch of cbDOGE products on the Coinbase exchange.

The post What’s Next For Dogecoin Price as Active Addresses Soar 800% Amid DOGE ETF Hype? appeared first on CoinGape.

Coinbase has fallen victim to a cyberattack, becoming the latest casualty in the growing crypto hacks. In an unusually targeted attack, the criminals allegedly bribed and recruited rogue overseas support agents to gain access to users’ personal data. Both Coinbase and its CEO, Brian Armstrong, issued statements outlining the impact and the countermeasures on Thursday morning.

The company claims that no sensitive data was breached, but the crypto exchange has pledged to reimburse any affected customers. In addition, the platform has launched a $20 million reward fund to track down the perpetrators.

Coinbase Cyberattack: Criminals Target User Data

Coinbase revealed the cyberattack on social media and shared that hackers targeted the personal data of Most Trusted Users (MTU). “No passwords, private keys, or funds were exposed. Prime accounts are untouched,” Coinbase wrote on X.

The hackers allegedly sent an email to the exchange, demanding a ransom to keep the stolen data under wraps. In response to the threat, CEO Brian Armstrong shared a video post, firmly stating, “No, we are not going to pay your ransom.”

Details of Data Breach

Elaborating on the hackers’ attempt to steal users’ personal information, Brian Armstrong stated that less than 1% of the users’ personal data is likely to have been compromised.

Though they bribed customer support agents overseas, they failed to steal sensitive data, claims Coinbase. Instead, they gained access to personal information, including customers’ names, addresses, and other contact details. Brian suspected that the hackers could impersonate Coinbase executives to its users using the customer data gathered from the cyberattack.

In addition, they got access to the last four digits of Masked Social Security numbers, Masked bank‑account numbers, and some bank account identifiers, identity proofs, account data, and more.

At the same time, they failed to steal sensitive information, including Login credentials, private keys, customer funds, and prime account details. They were also blocked from accessing customers’ hot and cold wallets.

Notably, this development follows Telegram’s recent crackdown on Haowang Guarantee, a major darknet marketplace. This highlights the growing need for solid security measures and regulations amid the increasing crypto hacks.

Coinbase Promises Reimbursement and Enhanced Security

Addressing the crypto exchange hack, the crypto exchange has promised to reimburse the affected users. Coinbase cyberattack victims can claim reimbursement if they were tricked into sending funds to the attackers due to social engineering attacks. To further safeguard customers, flagged accounts will now require additional ID checks on large withdrawals and include mandatory scam-awareness prompts.

Moreover, the platform has opened a new support hub in the US, implementing stronger security controls and monitoring across all locations. As the company has initiated investigations into the crime, customers will be provided with regular updates on the matter.

Last year, one of the largest crypto exchanges in India, WazirX, also faced a similar cyberattack where hackers stole a staggering $230 million on July 18, 2024. The attack had forced the exchange to halt operations and freeze the user funds, a resolution to which is still awaited.

The post Breaking: Coinbase Suffers Cyberattack, Promises Reimbursement appeared first on CoinGape.

Ethereum just landed a major vote of confidence. Blockchain infrastructure firm BTCS Inc. secured financing to purchase up to $57.8 million worth of ETH, aligning with its long-term validator and staking expansion.

A Confidence Boost from BTCS

The first $7.8 million tranche closed on May 14. BTCS CEO Charles Allen personally participated in the round, likening the move to MicroStrategy’s Bitcoin playbook. He emphasized that Ethereum is at a ‘critical inflection point’ of its growth trajectory, exhibiting potential as both a core asset and a revenue engine through validator rewards and block production.

Ethereum spot ETFs saw a net inflow of $63.5 million on May 14, which was quite a turnaround after nearly two weeks of persistent outflows.

This rise was led by BlackRock (ETHA) and Fidelity (FETH), which shows a possible shift in institutional sentiment as ETH consolidates above $2,500.

Over the last week, Grayscale’s ETHE continued to bleed funds, but other issuers showed renewed activity. If inflows sustain, this could be an early sign of accumulation before Ethereum’s next move.

Is This Ethereum’s Turning Point?

Ethereum’s role as a yield-generating asset makes it attractive in a sideways market. The BTCS strategy highlights this by focusing on validator expansion, staking rewards, and block-building via its Builder+ platform.

Meanwhile, derivatives data shows ETH market participation growing, with open interest rising 4.52% to $32.33 billion and volume crossing $121 billion, per Coinglass. These metrics often precede price rallies, suggesting renewed positioning.

Importantly, this accumulation comes as Ethereum continues to hold its $2,000–$2,200 support zone, a level analysts say could serve as a springboard toward $3,000 or higher.

Ethereum is currently said to be at a pivotal price zone. At $2,552, it saw a 2.19% daily dip, but is still up 50% weekly after hitting $2,750. If support holds above $2,200, bullish analysts forecast a push toward $3,200 and possibly $4,200 in the near term.

Market watchers are closely monitoring whether ETF inflows continue and if retail demand follows.

Just today, Ethereum launched its trillion-dollar network security upgrade, which is aimed at securing institutional adoption. The initiative is a major step in Ethereum’s roadmap, and now the ETH Price Target is set at $4,200. 

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