Dogecoin (DOGE) Poised to Reach 5.24 Billion Active Addresses: Can DOGE Price Reach $0.15?

Dogecoin Poised for Surge as Addresses Reach Record High

Dogecoin (DOGE) continues to impress, with a remarkable 5.2 billion DOGE held across multiple addresses. This significant milestone is expected to drive investor interest and potentially trigger a price surge.

High Activity in the Dogecoin Ecosystem

The Dogecoin ecosystem has witnessed a surge in activity, evident from its whale transactions and overall volume. In the past 24 hours, DOGE has processed a volume of over $8 billion, with numerous large transactions exceeding a million dollars. According to IntoTheBlock, 75% of addresses are currently profitable, signaling bullishness within the ecosystem.

Investors' Optimism Boosted by Profitability

Investors closely monitor Dogecoin's profitability levels to gauge its future performance. As more addresses become profitable, optimism around DOGE is likely to increase. Notably, despite recently being surpassed by Litecoin in transaction volume, Dogecoin's recent momentum remains promising for investors.

Price Outlook: Resistance and Support Levels

While DOGE has faced some resistance, it has managed to sustain momentum above the crucial 50 EMA support level. If it holds above this level, DOGE could continue its bullish trend. Key support levels to watch include $0.119, $0.128, and $0.133.

Can DOGE Reach $0.15?

Dogecoin's ability to reach $0.15 will depend on its ability to cross the aforementioned resistance levels. The $0.119 level is crucial as it prevents further losses. A successful breakout above $0.128 will provide momentum for DOGE to test $0.133. A push above this level could potentially push DOGE towards $0.15.

Growing Adoption and Recognition

Dogecoin's adoption is gaining traction, extending into real-world use cases. For instance, Venezuela is embracing DOGE for remittances amidst economic challenges. This recognition could set a precedent for other jurisdictions, potentially driving the price of DOGE even higher as adoption increases.