Dogecoin is once again capturing market attention, this time driven by a significant leap in its mining performance. Recent developments indicate that the Dogecoin network has achieved a threefold increase in processing speed and a notable milestone in its ongoing evolution. This surge in efficiency enhances transaction throughput and also signals growing strength in the network’s underlying infrastructure.
Dogecoin Mining Infrastructure Strengthens Ahead Of Launch
The network set to power Dogecoin mining on April 1st has just achieved a major performance milestone, speeding up 3x faster on the live mainnet, not on a testnet. Qubic has stated on X that over the past year, the network has steadily improved its processing speed, moving from handling a tick every 2 seconds to 1 second, and the latest core optimization just pushed it down to 0.6 seconds.
This upgrade is important for Dogecoin mining because every share submitted by miners is validated through Oracle Machines within a single tick. With faster ticks, the network can deliver quicker confirmations, with a more efficient pipeline, and a system equipped to handle the load when April 1st arrives. Given that this improvement is arriving just ahead of launch, the network appears to be scaling at the right time, Qubic outlined.
Even with key developments, Dogecoin is still down. The meme coin’s price is once again approaching a technically significant level, with multiple indicators aligning to suggest a potential turning point. An analyst known as Cryptoinsightuk on X highlighted that on the weekly timeframe, the Relative Strength Index (RSI) has appeared compressed, signaling that the downside momentum is weakening.
At the same time, price action is revisiting a previous accumulation/support area and positioned at the lower boundary of a broader range bullish pennant structure. Adding to the confluence, DOGE is currently in the area of its highest trading volume, which can often act as a strong foundation for a potential reversal.
From a range perspective, simply trading between support and resistance could offer substantial upside, with projections of up to 300% if the price rotates toward the top of the range. The broader technical argument would be that it breaks out positively. Based on this setup, Cryptoinsightuk suggested cautiously accumulating at these levels, viewing it as an attractive spot-buy opportunity from a technical standpoint.
Early Signs Of A Dogecoin Trend Reversal Emerge
A crypto enthusiast has predicted a potential shift in momentum for Dogecoin. According to TOPDOGE, Dogecoin may already be entering the early stages of an uptrend. A green candle is currently forming at the base of a rising channel, an area that has historically acted as a reliable bottom for price action.
However, the appearance of buying pressure at this level may flip momentum, triggering the early stages of a rally.
Featured image from Getty Images, chart from Tradingview.com
