CoinTelegraph 2025-03-18 11:26:52

Dogecoin millionaires are buying dips as DOGE price eyes 30% rally

Dogecoin ( DOGE ) price has crashed by over 70% after hitting $0.48 in December 2024. Interestingly, the memecoin’s richest holders have accumulated during the price declines, indicating their confidence in a potential rebound in the coming weeks. Dogecoin onchain metrics hint at price rebound Onchain data from Santiment shows that wallets holding at least 1 million DOGE have increased by 1.24% since early February, despite declining prices. Meanwhile, active addresses have surged to a four-month high, suggesting rising network activity. Dogecoin addresses holding at least a million DOGE vs. price. Source: Santiment Typically, when large holders accumulate an asset while prices decline, it signals that they see undervaluation and are positioning for a future rebound. An increase in active addresses indicates higher engagement on the network—possibly reflecting growing retail interest. If this surge in user activity stems from real adoption rather than speculative trading or panic selling, it could provide the onchain foundation needed for a price recovery. A similar pattern was observed during the DOGE’s 200%-plus price rally in November. DOGE is oversold, raising chances of 30% rally Dogecoin is currently testing a support confluence comprising a multi-year ascending trendline support, a level that has historically triggered strong bullish reversals and the 200-week exponential moving average (200-week EMA) at around $0.13. DOGE/USD weekly price chart. Source: TradingView Additionally, the Stochastic RSI, an indicator measuring momentum and overbought/oversold conditions, shows a bullish cross in the oversold region (below the 0.30 reading). This signal typically indicates that selling pressure is weakening. In DOGE’s case, this crossover at low levels has preceded strong price recoveries, notably a 400% price rally in 2024 and 88% gains in 2023. Related: Crypto market is seeing a ‘tactical retreat, not a reversal’ — Binance CEO The first major resistance level lies near $0.22, aligning with DOGE’s 50-week exponential moving average (50-week EMA; the red wave) and the March-April 2024 resistance area, as shown below. DOGE/USD weekly price chart. Source: TradingView However, if DOGE fails to hold the support confluence, the bullish setup could be invalidated, leading to a deeper correction toward $0.12, which served as support in the March-May 2024 period. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Наиболее читаемые новости

Bitwise CIO Highlights DeFi’s Undervalued Pot...
2025-03-18
Revolutionary Nvidia AI Supercomputers Unleas...
2025-03-18
South Korea’s Bithumb Clears Legal Hurdle, St...
2025-03-18
Could the Solana Price to Dump to $30 in 2025...
2025-03-18
Bitwise CIO Bullish on DeFi, Sees Aptos and S...
2025-03-18
Trump admin releases JFK assassination files...
2025-03-18
Shocking Survey: 83% of Institutions to Super...
2025-03-18
Chainlink (LINK) Founder Shares Hidden Detail...
2025-03-18

Связанные новости

Прочтите Отказ от ответственности : Весь контент, представленный на нашем сайте, гиперссылки, связанные приложения, форумы, блоги, учетные записи социальных сетей и другие платформы («Сайт») предназначен только для вашей общей информации, приобретенной у сторонних источников. Мы не предоставляем никаких гарантий в отношении нашего контента, включая, но не ограничиваясь, точность и обновление. Никакая часть содержания, которое мы предоставляем, представляет собой финансовый совет, юридическую консультацию или любую другую форму совета, предназначенную для вашей конкретной опоры для любых целей. Любое использование или доверие к нашему контенту осуществляется исключительно на свой страх и риск. Вы должны провести собственное исследование, просмотреть, проанализировать и проверить наш контент, прежде чем полагаться на них. Торговля - очень рискованная деятельность, которая может привести к серьезным потерям, поэтому проконсультируйтесь с вашим финансовым консультантом, прежде чем принимать какие-либо решения. Никакое содержание на нашем Сайте не предназначено для запроса или предложения