{"id":202251,"date":"2023-11-28T19:20:41","date_gmt":"2023-11-28T13:50:41","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=202251"},"modified":"2023-11-28T19:20:41","modified_gmt":"2023-11-28T13:50:41","slug":"will-doge-rally-as-addresses-with-a-balance-surpass-5m-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/will-doge-rally-as-addresses-with-a-balance-surpass-5m-crypto-news\/","title":{"rendered":"Will DOGE Rally As Addresses With A Balance Surpass 5M – Crypto News"},"content":{"rendered":"

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\nDogecoin price prediction: DOGE rebounds after sweeping liquidity at $0.07 but resistance at $0.08 is delaying the anticipated climb above $1 bolstered by increasing user engagement.\t\t\t\t<\/p>\n

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Published 32 mins ago <\/p>\n

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Dogecoin price prediction: Altcoins have over the last couple of months de-correlated from Bitcoin based on fundamental data from research firm Kaiko. While XRP and Binance (BNB) posted the largest drop in the correlation index, Dogecoin (DOGE) and Cardano (ADA) remained mostly correlated.<\/p>\n

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#Bitcoin<\/a> has de-correlated with #Altcoins<\/a> in the last 60 days!$XRP<\/a> and #BNB<\/a> have registered the largest drop in correlation.<\/p>\n

While $DOGE<\/a> and $ADA<\/a> have remained mostly correlated.<\/p>\n

Source: @KaikoData<\/a> pic.twitter.com\/NkFZgv2jSy<\/a><\/p>\n

\u2014 CryptoBusy (@CryptoBusy) November 27, 2023<\/a><\/p>\n<\/blockquote>\n

The largest meme coin although down 1.6% to $0.078 on Monday, is sustaining a 5% increase in the last seven days on top of the cumulative 14% in 30 days, market data by\u00a0CoinGecko<\/span><\/a>\u00a0shows.<\/p>\n

Meanwhile, trading volume has been shrinking across the board with a 35% drop recorded on the day to $458 million. The ongoing sell-off has seen DOGE trim 1.54% of the market cap in 24 hours to $11 billion.<\/p>\n

Dogecoin Price Prediction: DOGE Slows Uptrend<\/h2>\n

The bullish thesis in\u00a0Dogecoin price<\/span><\/a>\u00a0steadied from the support at $0.058, compelling investors to seek more exposure amid the promise of a return above the psychological resistance at $0.1.<\/p>\n

Subsequent movements above all three MAs including the 50-day Exponential Moving Average (EMA) (red), the 100-day EMA (blue), and the 200-day EMA (purple) significantly improved confidence in the uptrend.<\/p>\n

Dogecoin later validated the formation of a double-bottom pattern whose impact has played a vital role in the continuation of the uptrend to eight-month highs of $0.0876.<\/p>\n

Due to a profit-booking wave across the crypto market,\u00a0Dogecoin dropped<\/span><\/a>\u00a0to test support provided by the 50-day EMA at $0.07.<\/p>\n

\"Dogecoin\"Dogecoin<\/a>
Dogecoin price prediction chart | Tradingview<\/figcaption><\/figure>\n

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With investors looking at the long-term bullish outlook, Dogecoin bounced off support immediately, although resistance at $0.08 is currently the biggest blockade.<\/p>\n

Trading above this level is crucial to\u00a0Dogecoin price recovery<\/span><\/a>, however, with the Moving Average Convergence Divergence (MACD) indicator donning a sell signal, another sweep through liquidy in lower support areas like $0.07 would be required before the next recovery attempt past $0.1.<\/p>\n

A retest of the double-bottom pattern\u2019s neckline resistance now support is often bullish. Therefore, traders are at liberty to keep their long positions intact as they aim at profiting above $0.1.<\/p>\n

Recommended for you:<\/b>\u00a0Terra Classic Price Dips Below $0.0001, Was the Recent Recovery a Bull Trap?<\/span><\/a><\/span><\/p>\n

Dogecoin Addresses With A Balance Hit 5M<\/h2>\n

According to data by\u00a0IntoTheBlock<\/span><\/a>, a blockchain analytics platform, \u201cthere are now more than 5 million Dogecoin addresses with a balance.\u201d This number has grown steadily since August and confirms the increasing risk appetite among investors for the leading meme coin.<\/p>\n

\"Dogecoin\"Dogecoin<\/a>
Dogecoin addresses | IntoTheBlock<\/figcaption><\/figure>\n

Coincidentally, Dogecoin\u2019s user activity also spiked within the same period, with 168,000 active addresses transacting on the network on November 27. This was the highest level of engagement since March 2022.<\/p>\n

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This milestone coincides with a remarkable surge in Dogecoin’s user activity. Notably, there were 168,000 active addresses yesterday, marking the highest engagement since March 2022.
\ud83d\udd17https:\/\/t.co\/sVl5CEGSe2<\/a> pic.twitter.com\/3eyOhGqkCd<\/a><\/p>\n

\u2014 IntoTheBlock (@intotheblock) November 27, 2023<\/a><\/p>\n<\/blockquote>\n

Although Dogecoin price reveals weakness due to resistance at $0.08, solid fundamental factors like the higher investor risk appetite and user engagement hint at a stronger bullish future.<\/p>\n

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If support at $0.07 holds, Dogecoin could begin another rally bolstered by the momentum from investors buying the dip. A break above $0.1, while significant, would not mark the end of the uptrend, but may usher in a bullish dispensation.<\/p>\n

Related Articles<\/h3>\n<\/p><\/div>\n
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John is a seasoned crypto expert, renowned for his in-depth analysis and accurate price predictions in the digital asset market. As the Price Prediction Editor for Market Content at CoinGape Media, he is dedicated to delivering valuable insights on price trends and market forecasts. With his extensive experience in the crypto sphere, John has honed his skills in understanding on-chain data analytics, Non-Fungible Tokens (NFTs), Decentralized Finance (DeFi), Centralized Finance (CeFi), and the dynamic metaverse landscape. Through his steadfast reporting, John keeps his audience informed and equipped to navigate the ever-changing crypto market. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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Dogecoin price prediction: DOGE rebounds after sweeping liquidity at $0.07 but resistance at $0.08 is delaying the anticipated climb above $1 bolstered by increasing user engagement. <!– –> Published 32 mins ago Dogecoin price prediction: Altcoins have over the last couple of months de-correlated from Bitcoin based on fundamental data from research firm Kaiko. While […]<\/p>\n","protected":false},"author":2,"featured_media":202252,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-202251","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/202251","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=202251"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/202251\/revisions"}],"predecessor-version":[{"id":202254,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/202251\/revisions\/202254"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/202252"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=202251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=202251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=202251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}