Followin' the on-chain activity of Doge [DOGE] suggests a potential shift in momentum, catching the attention of traders and analysts. In fact, the formation of a bullish inverted head and shoulders pattern hints at a potential uptrend when network activity surges - a sign of increasing adoption. These factors collectively shape the short-term outlook for DOGE, providing insights into whether its price is poised to break out or pull back on the charts. Wantin' to learn more about the crypto world and get the latest news? Feel free to join my group; QQ: 3786051908 or follow my WeChat public account: Lazy King Squirrel, where we have a professional community that provides daily market analysis and recommendations for promising altcoins. The 1-hour DOGE/USDT chart on Binance displays a classic inverted head and shoulders bullish pattern. The left shoulder formed at $0.150, the head dipped to $0.1438, and the right shoulder stabilized around $0.160. The neckline resistance is at $0.169, where the price is consolidating. A breakout above $0.169 could trigger a rebound to $0.185-$0.190, implying an upside potential of 9%. Technical indicators support this outlook. The MACD line crossed over the signal line at 0.00041, with values of 0.00038 and -0.00003 confirming the bullish momentum. If DOGE fails to break above $0.169, it may retrace to $0.150. A drop below $0.167 could signal a bearish trend, leading to a panic sell-off to $0.1438. In the long run, a sustained break above $0.190 could target $0.250, but a false breakout may push the price down to $0.130. Furthermore, DOGE's network activity has surged, with the number of active addresses approaching 200,000 in a single day - a level not seen since the last major rally. The total address count has increased from 42,000 to 1.48 million, with the price rising from $0.057 to $0.368. This surge in adoption typically precedes price appreciation. Historical trends suggest a link between increasing address count and price appreciation. A similar spike in January 2024 led to gains of over 50%. Therefore, if the active address count continues to climb to 2 million, DOGE could reach $0.500. However, a decline in adoption could limit the upside potential, pulling the price back to $0.150. If address growth stagnates below 50,000, DOGE may face a significant correction to $0.100. The DOGE/USDT 1-hour chart highlights clear volume distribution. The $0.165-$0.167 area shows significant liquidity, forming a support base after the decline from $0.200. The $0.169 neckline acts as resistance, with a volume peak at $0.1438 marking a critical reversal point. The bullish MACD crossover at 0.00041, with values of 0.00038 and -0.00003, enhances the upside potential. Investors may place buy orders in the $0.165-$0.167 range, leveraging the high liquidity. A breakout above $0.169 could trigger a sell-off to $0.185-$0.190, targeting the next resistance level. Conversely, if DOGE drops below $0.165, traders may set stop-losses at $0.1438 to mitigate risk. In the long run, an expansion of volume to $0.200 could propel it to $0.250, but a liquidity decline below $0.150 may push DOGE to $0.130. In conclusion, DOGE's technical and on-chain data suggest potential breakout scenarios. The inverted head and shoulders pattern, with support at $0.150, $0.1438, and $0.160, implies a bullish trend if the price surpasses $0.169. Supported by robust network growth and buying pressure, a breakout above $0.169 could drive DOGE to $0.250. However, failure to breach this level may lead to a pullback to $0.150, with a risk of dropping to $0.1438 if it falls below $0.165. A sharp decline in active addresses or a reduction in trading volume could push DOGE down to $0.100.