Dogecoin's (CRYPTO: DOGE) blockchain has seen a massive surge in network activity, with the cryptocurrency experiencing record highs in both active and new addresses on Thursday.

Dogecoin的（加密：Doge）区块链的网络活动激增，加密货币在周四的活跃和新地址都具有创纪录的高潮。

Here's a closer look at the trends and what they could mean for the meme coin's price.

这是对趋势的仔细研究，以及它们对模因硬币的价格意味着什么。

What Happened: Dogecoin's network saw 1.6 million active addresses—wallets sending or receiving DOGE—which is the highest daily figure in the network's history, according to blockchain analytics firm Santiment.

发生的事情是：根据区块链分析公司Santiment的说法，Dogecoin的网络看到了160万个活动地址（送或接收Doge），这是该网络历史上最高的人物。

This shows a sudden wave of transactional engagement. In most cases, a rise in active addresses indicates increased user participation, renewed speculation or even network-level events such as airdrops or integrations.

这表明了突然的交易参与。在大多数情况下，主动地址的上升表明用户参与，更新的投机甚至网络级事件（例如气滴或集成）。

However, in Dogecoin's case, the source of the spike remains unclear, which raises questions about the quality and longevity of the activity.

但是，在Dogecoin的情况下，尖峰的来源尚不清楚，这引发了有关活动的质量和寿命的疑问。

The new address count also spiked on Thursday, with over 1.2 million new wallets being created.

新的地址计数也在周四飙升，创建了超过120万个新钱包。

"This is heating up. We haven't seen this level of new Dogecoin addresses in over a year, and it's getting close to the blow-off top in mid-2023," Santiment said in a recent note.

Santiment在最近的一份说法中说：“这正在加热。我们一年多来还没有看到这种新的Dogecoin地址，而且它已经接近2023年中期的吹风。”

According to the firm, new address growth of this magnitude usually coincides with bullish sentiment, as seen during Dogecoin's explosive rallies in early 2021 and mid-2023.

根据该公司的说法，这种新的地址的增长通常与看涨的情绪相吻合，如Dogecoin在2021年初和2023年中期的爆炸性集会期间所见。

But past cycles show that such bursts can also result from automated wallet generation—especially during viral campaigns or farming initiatives. Without sustained follow-through, these surges tend to fade rapidly and have a limited impact on long-term price appreciation.

但是过去的周期表明，这种爆发也可能是由于自动钱包的产生而引起的，尤其是在病毒运动或农业计划中。如果没有持续的跟进，这些潮流往往会迅速消失，并且对长期价格欣赏的影响有限。

Despite Dogecoin's fluctuating market value, one trend has remained constant: long-term address growth. The total number of DOGE wallets now stands at nearly 80 million, showcasing sustained adoption and on-chain expansion.

尽管Dogecoin的市场价值波动，但一种趋势仍然持续：长期地址增长。目前，总督钱包的总数近8000万，展示了持续采用和链上的扩张。

Unlike active or new address spikes, which are often volatile, the total address metric has displayed consistent growth since 2014. This signals Dogecoin's lasting appeal as a speculative asset and tipping currency, even if it remains a meme coin in the eyes of institutional investors.

与经常波动的活动或新地址峰值不同，自2014年以来，总的地址度量标准表现出一致的增长。这表明Dogecoin作为投机性资产和小费货币的持久吸引力，即使它仍然是机构投资者眼中的模因硬币。

Related Link: Want to know what else is heating up in the markets? Benzinga has you covered.

相关链接：想知道市场上还在加热什么？ Benzinga让您覆盖。

Dogecoin Price Action: As on-chain metrics hit record highs, Dogecoin's price failed to break out meaningfully.

Dogecoin价格动作：随着链量指标的创下纪录，Dogecoin的价格未能有意义地爆发。

The meme coin was down 0.83% over the last 24 hours and traded at $0.216 at the time of writing. It pulled back from a recent local high of $0.26.

在过去24小时内，模因硬币下跌了0.83％，在撰写本文时以0.216美元的价格交易。它从最近的0.26美元当地高点退回。

The 4-hour chart showed a recent descending triangle breakout, which is typically a continuation pattern and a bullish signal. However, the breakout lacked strong volume support and lost momentum quickly. The Relative Strength Index was at 45, which could be seen as weak buying pressure and pointed to indecision.

4小时的图表显示了最近的下降三角突破，这通常是持续模式和看涨信号。但是，突破缺乏强大的体积支持和迅速失去动力。相对强度指数为45，可以看作是弱购买压力，并指出了犹豫不决。

This isn't the first time Dogecoin's network usage has outpaced its price performance. In 2021 and 2023, similar spikes in address activity were later followed by either sideways trading or minor corrections.

这不是Dogecoin的网络使用率首次超过其价格性能。在2021年和2023年，地址活动中的类似峰值随后进行了侧向交易或较小的校正。

One possible explanation for the lack of price response might be that high address counts don't necessarily translate to market conviction. Many newly created addresses could hold negligible balances or engage in one-off transactions. Without substantial capital inflow or demand-side catalysts, price might lag behind network expansion.

缺乏价格响应的一种可能解释可能是，高地址数量不一定会转化为市场定罪。许多新创建的地址可以保持可忽略的余额或进行一次性交易。没有大量资本流入或需求侧催化剂，价格可能会落后于网络扩展。

Also, DOGE's inflationary supply model—with 10,000 new coins being minted every minute—could exert constant sell pressure, making it harder for price to respond positively unless offset by sustained demand.

此外，Doge的通货膨胀供应模型（每分钟都会铸造出10,000个新硬币）可能会施加持续的卖压力，除非持续需求抵消，否则价格更难做出积极的响应。