- Steady metrics and quiet accumulation might be the secret sauce for DOGE‘s comeback, as it remains 47% below its glory days.
- With wavering sentiment and unremarkable on-chain data, DOGE seems to be waiting for its moment in the sun.
Dogecoin (DOGE) is up by 5%, but it’s still got a long way to go, sitting below the resistance line. Could the bulls be silently amassing their DOGE army, with the memecoin still 47% below its yearly peak of $0.48?
Meanwhile, the memecoin realm has lost 6% of its market cap over the last 24 hours, as profits get locked away. Dogecoin is no exception to this rule. Despite a 40% surge in volume, its price has slipped more than 2% as of this writing.
With shaky sentiment and steady yet unremarkable on-chain metrics, Dogecoin seems to be in a state of limbo. The key support level lies at $0.23.
Will we see a rebound? Only if FUD (Fear, Uncertainty, and Doubt) fades away and activity starts to pick up.
A glimmer of hope for DOGE 🌟
Since DOGE’s post-election peak, the number of holders has grown from 6.8 million to 7.15 million. This is a clear indication that faith in DOGE remains strong.
This could be a turning point. Short-term volatility might scare off the faint-hearted, but the increasing number of holders shows a growing belief in Dogecoin’s long-term potential.
Interestingly, whale activity is setting up to be a game-changer. Smaller whales (1M-10M DOGE) have sold off billions, but larger whales (10M-100M DOGE) are in full accumulation mode, adding $6 billion since November.
It’s not enough to trigger a supply shock just yet. But with strong HODLing sentiment and big-time support, a breakout past $0.35 could be just a market rebound away. So, keep an eye on this dip, as it might be a golden opportunity! 💰💡
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2025-02-13 17:14