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Dogecoin Explosion: 133,880 Active Addresses and 1.4 Billion DOGE Purchased in 48 Hours

A Surge in Dogecoin Activity: 133,880 Active Addresses!

Dogecoin (DOGE) has seen a big increase in active addresses, reaching about 133,880, marking the most activity in the last eight months. This rise suggests more interest and participation in the Dogecoin network, which could lead to price increases. Currently, Dogecoin is trading at around $0.11, and traders are watching closely for signs of a potential price rally. Additionally, some old Dogecoin addresses have been reactivated, showing ongoing interest in the cryptocurrency. Overall, the growth in active addresses might spark future price changes for Dogecoin.

Whale Activity: 1.4 Billion DOGE Bought in Just 48 Hours!

In the past week, Dogecoin (DOGE) has seen significant activity from large investors, known as whales. They conducted transactions totaling about 8.1 billion DOGE, a 74.56% increase compared to before, with 898 transactions over $100,000 each. Whales also bought more than 1.4 billion DOGE in just 48 hours, taking advantage of favorable price changes. These big purchases coincided with Dogecoin's price rising by nearly 10% over the week. Overall, this whale activity shows strong interest in Dogecoin.

Current Price Action: DOGEUSD Consolidates

DOGEUSD is consolidating between $0.48464 and $0.3646 for the past two weeks. It hit a low of $0.4320 at the time of writing and is currently trading around $0.43775.

 Technical Indicators and Support Levels

On the 4-hour chart, the pair is holding above the short-term (34 and 55-day EMA) and long-term 200 EMA ($0.350). The bearish invalidation can happen if the pair closes above $0.190. On the lower side, the near-term support is $0.350, and any close below targets 0.3270/0.3270/0.2300/$0.190.

Price Resistance and Buying Strategy

The immediate resistance stands at around $0.50. Any breach above confirms a minor pullback, with a jump to $0.75 or $1 being possible. A surge past $1 could take DOGE to $2. It's suggested to buy on dips around $0.3600, with a stop loss around $0.19 for a target profit of 0.75/0.75/1.

 

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