Dogecoin (DOGE) has long been celebrated not just for its meme-inspired origins, but for its resilient community and growing utility. Recently, a new development has reignited interest in the cryptocurrency: the integration of DRC-20 tokens, Dogecoin’s native inscription standard, into major platforms like the OKX Web3 marketplace. This upgrade could be the catalyst that propels DOGE toward the psychologically significant $0.10 price mark.
With increased on-chain activity, rising holder counts, and renewed developer interest, the Dogecoin ecosystem is showing signs of a potential revival. But can DRC-20 truly drive sustainable demand and push prices higher?
What Is DRC-20 and Why It Matters
The DRC-20 token standard enables users to mint and deploy custom tokens directly on the Dogecoin blockchain—similar to how ERC-20 tokens operate on Ethereum or BRC-20 on Bitcoin. This functionality opens the door for new use cases such as NFTs, decentralized applications (dApps), and community-driven projects built natively on Dogecoin.
Introduced in response to the surge of Bitcoin Ordinals and BRC-20 tokens, DRC-20 brought a similar innovation to Dogecoin through a concept known as Doginals—inscriptions that embed data onto DOGE transactions. While early excitement around Doginals faded, the recent support from OKX has breathed new life into the ecosystem.
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By integrating DRC-20, OKX is enabling broader access to these tokens, allowing users to trade, store, and interact with them seamlessly. This institutional-level support signals growing confidence in Dogecoin’s technical evolution beyond just a payment token.
Rising Demand: On-Chain Metrics Tell a Compelling Story
One of the strongest indicators of renewed interest in Dogecoin is the surge in on-chain activity.
At the time of writing, DOGE was trading at $0.081, reflecting a 3.77% gain over the past 24 hours. While its Year-To-Date (YTD) performance still shows a decline of 11.42%, short-term momentum suggests a shift in market sentiment.
More importantly, key metrics point to increasing network engagement:
- Total DOGE holders: Over 5.87 million, up from December 2023 levels.
- 24-hour active addresses: Reached 382,000, the highest since December 20, 2023.
These numbers indicate that more users are transacting and interacting with the Dogecoin network—potentially driven by DRC-20 minting activity and speculative interest.
When more people use a blockchain, transaction volume increases, fees rise slightly, and overall economic activity strengthens. For Dogecoin, which has historically struggled with low developer activity compared to peers like Ethereum or Solana, this uptick is a positive signal.
Technical Outlook: Is $0.09 Within Reach?
From a technical analysis perspective, DOGE appears poised for further upside—if momentum holds.
On the 4-hour chart, several indicators suggest accumulation is underway:
- The Accumulation/Distribution (A/D) indicator has shown a clear upward jump, signaling that selling pressure is decreasing and buyers are stepping in.
- Both the 20-period EMA (blue) and 50-period EMA (yellow) are positioned below the current price, indicating bullish momentum.
As long as DOGE maintains support above these moving averages, the path to $0.09 becomes increasingly viable. That level would represent a ~11% increase from current prices—a realistic target given recent trends.
However, traders should remain cautious. The Relative Strength Index (RSI) shows that buying strength is beginning to wane, suggesting a potential pullback or consolidation phase may occur before any sustained breakout.
Still, there’s no evidence yet that sellers have regained control. As long as volume remains strong and on-chain activity continues to grow, bullish momentum could resume.
Could DRC-20 Fuel Long-Term Growth?
The real question isn’t whether DOGE can reach $0.09—it’s whether it can sustain momentum toward **$0.10 and beyond**.
For that to happen, DRC-20 must evolve from a novelty into a functional layer of value creation on Dogecoin. Here’s how it could help:
- New Utility: Developers can launch tokens for games, rewards systems, or decentralized communities directly on Dogecoin.
- Increased Transaction Demand: Minting and transferring DRC-20 tokens require DOGE for gas fees, increasing base-layer demand.
- Community Engagement: Memes built on Doginals or unique collectibles can re-energize DOGE’s passionate user base.
- Exchange Support: With OKX onboard, other major platforms may follow, boosting liquidity and visibility.
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If even a fraction of Ethereum or Bitcoin’s NFT and token innovation migrates to Dogecoin via DRC-20, the network could see exponential growth in usage—and price.
Frequently Asked Questions (FAQ)
Q: What is the DRC-20 token standard?
A: DRC-20 is a token protocol that allows users to create and mint fungible tokens on the Dogecoin blockchain, similar to BRC-20 on Bitcoin or ERC-20 on Ethereum.
Q: How does DRC-20 affect DOGE’s price?
A: By increasing on-chain activity and demand for DOGE (used for transaction fees), DRC-20 can drive scarcity and speculative interest, potentially pushing prices higher.
Q: Is $0.10 a realistic target for Dogecoin?
A: Yes—if DRC-20 adoption grows and broader market conditions remain favorable. Reaching $0.10 requires sustained buying pressure and increased utility.
Q: What are Doginals?
A: Doginals are inscriptions on the Dogecoin blockchain that embed data (like text or images) into individual coins—similar to Bitcoin Ordinals.
Q: Does OKX support other inscription-based tokens?
A: Yes—OKX supports various Web3 assets including BRC-20 and now DRC-20 tokens, making it a key player in the inscriptions ecosystem.
Q: How many people hold Dogecoin?
A: As of early 2025, there are approximately 5.87 million unique DOGE holders, with steady growth observed over recent months.
Final Thoughts: A New Chapter for Dogecoin?
Dogecoin’s journey from internet joke to top-tier cryptocurrency has always been fueled by community power. Now, with DRC-20, it may be entering a new phase—one defined not just by memes and celebrity endorsements, but by real technological advancement.
The combination of rising holder numbers, increasing active addresses, bullish technical signals, and institutional support from platforms like OKX paints an optimistic picture. While challenges remain—particularly around scalability and long-term developer engagement—the foundation for growth is being laid.
Reaching $0.09** seems achievable in the near term. Whether DOGE breaks through to **$0.10 will depend on how quickly the ecosystem embraces DRC-20 and builds meaningful applications on top of it.
One thing is clear: Dogecoin is no longer just a punchline. It’s becoming a platform.
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