The Dogecoin (DOGE) price is at a crossroads as its on-chain data is showing conflicting stances between bulls and bears. At the time of writing, the premier meme coin was changing hands for $0.009285, down 3.26% in the past 24 hours, according to data from CoinMarketCap. Despite this gloom, Dogecoin presents a daring on-chain twist that shows brighter days might be on the horizon.

What DOGE data says

DOGE 데이터가 말하는 것

At the moment, Dogecoin’s trading volume has plummeted by 24.8% to $877,799,567, showcasing dampened sentiment among day traders. While this causes a short-term concern, data from IntoTheBlock (ITB) shows a better-than-expected jump in Daily Active Addresses (DAA) on the Dogecoin network.

This metric pegs the growth rate at 62.93% at the time of writing, with the actual active addresses now pegged at 158,140. This active address count is bullish for Dogecoin as the greater the number of addresses, the more likely growth-boosting transactions can be conducted and change DOGE's bottom line.

Whale activities in the DOGE ecosystem have shockingly backtracked, with a total of $1.23 billion in large transactions conducted in the past week. As a major anchor of the network, the 24.16% drop in whale transactions adds complexity to the potential expectation of a resurgence by the top meme coin.

DOGE 생태계의 고래 활동은 놀랍게도 지난주에 총 12억 3천만 달러의 대규모 거래가 이루어졌습니다. 네트워크의 주요 앵커로서 고래 거래의 24.16% 감소는 최고의 밈 코인의 부활에 대한 잠재적 기대에 복잡성을 더합니다.

Dogecoin sentiment remains pumped

Dogecoin’s price showed an ambitious stride earlier in the month when it erased one zero following a period of sustained uptrend. In the past month, DOGE traded at a high price of $0.1058, with the Fear and Greed Index at the time crossing the 80 mark.

Despite the current gloom, the rating of Dogecoin on the Fear and Greed index has dropped to 65; however, the cryptocurrency is still seeing impressive demand from investors across the board. Should history repeat itself, Dogecoin is poised to end this month on a bullish note, according to Cryptorank’s data.

현재의 암울한 상황에도 불구하고 공포와 탐욕 지수에서 도지코인의 등급은 65로 떨어졌습니다. 그러나 암호화폐는 여전히 전반적으로 투자자들로부터 인상적인 수요를 보이고 있습니다. Cryptorank의 데이터에 따르면 역사가 반복된다면 Dogecoin은 강세로 이번 달에 종료될 준비가 되어 있습니다.