Dogecoin Kembali Aktif, Lonjakan Transaksi Capai Puncak Sejak Juli

Dogecoin Shows Signs of Resurgence with Increased Transactions and Whale Accumulation

Over the past week, Dogecoin (DOGE) has processed 1.93 million transactions, according to a recent report from IntoTheBlock. This marks the highest weekly activity since early July 2024.

The surge in transactions indicates renewed interest and usage of the Dogecoin blockchain network, which had seen declining transaction counts earlier this year. However, the transaction volume remains below the peak levels seen in February 2024.

Furthermore, there has been significant accumulation by large holders (whales), with over 10.65 billion DOGE acquired. This adds to the positive sentiment in the market and has led to speculation that DOGE's price could see a significant recovery in the future. Analysts argue that the combination of increased network activity and whale accumulation could be bullish signals for the leading memecoin.

Dogecoin Price Recovery Imminent

Prominent analyst Zero has offered his insights on DOGE's price action. He poses the rhetorical question: When will DOGE's sideways movement end?

According to Zero, the sideways movement will cease when the last few investors are convinced that DOGE is truly dead and will not let its price rise again. "[However] When it's time, it will run over its previous ATH like it's nothing," he stated.

In a shared chart, Zero highlights that Dogecoin is currently setting up for a strong recovery, which is expected to lead to a substantial rise in DOGE's price once it occurs.

The technical setup outlined by Zero shows a similar pattern to past DOGE price recoveries, where the price consolidates for an extended period before a breakout to new highs.

At the time of writing, DOGE is trading around $0.1007, having gained 1.09% in the past 24 hours. While this increase may seem small, analysts see great potential for Dogecoin to continue its bullish trend.

The increased transaction activity and whale accumulation signals provide a strong basis for further positive price action in the future. Additionally, based on DOGE's historical price movements, many predict that a large surge in Dogecoin's price is on the horizon.

Investors and traders in Dogecoin are eagerly awaiting the next phase in the cryptocurrency's journey, particularly with the increase in network activity and renewed interest within the crypto community.