You can also track network growth and user retention by looking at the number of unique addresses interacting with the project over time. With tools like Dune, you can visualize trends in user sign-ups and active addresses, helping you gauge whether the project is experiencing organic growth or if there are external factors driving short-term spikes.
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DOGE mirrors broader crypto and risk asset sentiment. In bull markets, risk - on sentiment boosts its price; in recessions, it plummets faster than Bitcoin. Community sentiment aligns with macro trends—positive news (Fed rate cuts) fuels optimism; negative news (inflation spikes) sparks fear. This correlation makes its volatility a reflection of global market mood swings.
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Developer activity indirectly via on-chain commits or multisig interactions, but primarily off-chain; correlate with on-chain upgrades. Track contract deployments and upgrades. Dune can monitor new contract creations. Santiment combines GitHub with on-chain. Consistent upgrades without rug risks add value, distinguishing serious projects.
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