CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino
Crypto Potato 2025-03-18 11:27:27

Is Dogecoin Poised for a Breakout? These Indicators Say Yes (Santiment)

Dogecoin (DOGE), the world’s largest meme coin by market capitalization, is likely to rally when crypto market sentiment improves and the prices of digital assets stabilize, according to signals picked up by the on-chain analysis platform Santiment. Santiment said Dogecoin’s utility and rising smart money signal a potential turning point and a bullish outlook for the asset. Metrics Suggest Bullish Signals for DOGE The market analytics platform urged investors to monitor the rising number of wallets holding at least 1 million DOGE. Since the start of February, these entities have grown by 1.24% (an additional 62 wallets). Also, Dogecoin’s active addresses are at a four-month high. With over 150,000 active DOGE addresses per day, this metric is at a level not seen since mid-November 2024. In addition to Santiment’s analysis, other market experts have identified signals that suggest DOGE is poised for a major reversal in the short term. A week ago, whales aggressively accumulated the meme coin, loading up 1.4 billion tokens in 24 hours on one occasion. Historically, increased whale activity has caused a supply crunch that triggered a rally in prices. So, if whales continue accumulating DOGE, the meme coin may be on its way to a significant pump. Moreover, the potential approval of a spot Dogecoin exchange-traded fund (ETF) in the United States could attract more capital into the ecosystem and push the asset’s value upward. Dogecoin’s Price Outlook While Dogecoin’s metrics are flashing positive signals, the cryptocurrency is down significantly due to the market-wide correction. After rallying to $0.41 on January 18, DOGE has tumbled by more than 63% to $0.15 in two months. Data from CoinMarketCap shows DOGE is down 38% monthly. Although the asset has increased 5% in the last seven days, it is still down 2.5% daily. At the time of writing, DOGE was changing hands at $0.16, and its market cap was also down 2.5% daily. Despite Dogecoin’s plunging value, some analysts are predicting that the asset could hit $1.1 in the next two months because it is showing a pattern similar to one seen in the 2017 bull run. The post Is Dogecoin Poised for a Breakout? These Indicators Say Yes (Santiment) appeared first on CryptoPotato .

Feragatnameyi okuyun : Burada sunulan tüm içerikler web sitemiz, köprülü siteler, ilgili uygulamalar, forumlar, bloglar, sosyal medya hesapları ve diğer platformlar (“Site”), sadece üçüncü taraf kaynaklardan temin edilen genel bilgileriniz içindir. İçeriğimizle ilgili olarak, doğruluk ve güncellenmişlik dahil ancak bunlarla sınırlı olmamak üzere, hiçbir şekilde hiçbir garanti vermemekteyiz. Sağladığımız içeriğin hiçbir kısmı, herhangi bir amaç için özel bir güvene yönelik mali tavsiye, hukuki danışmanlık veya başka herhangi bir tavsiye formunu oluşturmaz. İçeriğimize herhangi bir kullanım veya güven, yalnızca kendi risk ve takdir yetkinizdedir. İçeriğinizi incelemeden önce kendi araştırmanızı yürütmeli, incelemeli, analiz etmeli ve doğrulamalısınız. Ticaret büyük kayıplara yol açabilecek yüksek riskli bir faaliyettir, bu nedenle herhangi bir karar vermeden önce mali danışmanınıza danışın. Sitemizde hiçbir içerik bir teklif veya teklif anlamına gelmez