Price: $0.39660 2.1984%
Market Cap: 58.26B 1.7648%
Volume (24h): 8.81B 0.4%
Dominance: 1.7648%
Price: $0.39660 2.1984%
Market Cap: 58.26B 1.7648%
Volume (24h): 8.81B 0.4%
Dominance: 1.7648% 1.7648%
  • Price: $0.39660 2.1984%
  • Market Cap: 58.26B 1.7648%
  • Volume (24h): 8.81B 0.4%
  • Dominance: 1.7648% 1.7648%
  • Price: $0.39660 2.1984%
Home > Information news > Dogecoin (DOGE) 70% Surge Incoming? Important On-Chain Data

Dogecoin (DOGE) 70% Surge Incoming? Important On-Chain Data

Release: 2024/10/10 20:33 Reading: 526

Original author:U_Today

Original source:https://coinmarketcap.com/community/articles/6707c530fa8e3445cc6d90d9

Dogecoin (DOGE) 70% Surge Incoming? Important On-Chain Data

Dogecoin (DOGE) Shows Bullish Signs

Recent on-chain metrics indicate a potential bullish momentum for Dogecoin. According to the Global In/Out of the Money indicator, there are minimal significant selling clusters in the near term, suggesting an opportunity for an upward trend.

The indicator also shows that approximately 73% of Dogecoin addresses are currently in the money, indicating a high percentage of profitable holders. This typically signifies a strong position, as holders are less likely to sell at a loss.

While around 24% of addresses are out of the money, reducing the possibility of strong selling pressure in the short term, the recent surge in large transaction volume with 11.4 billion DOGE moved within 24 hours suggests potential activity by institutional investors preparing for a price increase.

Based on these indicators, DOGE appears poised to move towards the $0.17 price level, where traders should anticipate stronger selling pressure. If this resistance is overcome, Dogecoin may continue its rally. However, encountering significant resistance at or near this level could lead to a pullback or consolidation period.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.