💥 Highlights 💥
Analysts suggest $Dogecoin may be poised for a significant rally, with the MACD indicator hinting at a possible bullish crossover.
Ongoing projects like LibDogecoin and GigaWallet are enhancing Dogecoin's utility and adoption.
$Dogecoin active addresses have surged to a 7-month high, showing strong bullish interest.
After last week’s solid run-up, Dogecoin has faced some selling pressure, with its price correcting by 8% in the last 24 hours, now trading at $0.1085 and market cap dropping below $16 billion. However, market analysts believe a trend reversal could be on the horizon, with on-chain metrics signaling a potential upside move.
🔥 $Dogecoin Price Reversal Soon 🔥
Crypto analyst Ali Martinez predicts Dogecoin could be on the brink of a major rally based on the MACD indicator. He noted that during the last two bullish crossovers, DOGE surged by 90% and 180%, respectively. If history repeats itself, Dogecoin could surge to 20 and 30 cents.
With technical indicators suggesting another MACD crossover may be forming, investors are watching closely for a breakout in Dogecoin’s price. Additionally, developments like LibDogecoin, GigaWallet, and RadioDoge are set to improve Dogecoin's adoption and utility, making it a more attractive option for investors.
🔥 Whale Activity and Active Addresses on the Rise 🔥
Despite a recent 18% price retracement, DOGE whale activity remains high, reaching a 4-month peak, suggesting whales may not be done with the asset. Additionally, Dogecoin has seen a surge in active addresses, with 84,306 active DOGE addresses marking the largest rise in 7 months.
With bullish on-chain indicators, the market might be preparing for an Uptober rally, leading to a potential 2024 bull run.
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