Surprised! Dogecoin's major breakout opportunity, 12000% increase could become a reality?

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Dogecoin [DOGE] has shown a repeated trend of sharp price increases followed by corrections. In 2017, DOGE rose by 212%, pulled back by 40%, and then surged by 5,000%. Similarly, in 2021, it rose by 476%, corrected by 56%, and then skyrocketed by 12,000%.

In 2024, Dogecoin has also shown a similar trend, rising from $0.065 by 440% to $0.39547, followed by a pullback of 46%.

Cryptocurrency analyst Ali stated that if this trend continues as in previous cycles, this pattern suggests another significant rebound may occur.

Data from IntoTheBlock shows an increase in network activity. As of November 11, the total number of active addresses was 136,850, with 58,990 new addresses.

In the past week, new addresses increased by 102.40%, active addresses rose by 111.32%, and zero-balance addresses surged by 155.33%.

The growth in address activity coincides with Dogecoin's recent price rise to $0.40. The increase in participation indicates a resurgence of interest, possibly from retail and institutional investors.

There has also been a rise in large transactions involving Dogecoin. In the past week, the volume of large transactions peaked at 9,410, consistent with the recent price surge.

This is a significant increase compared to the weekly low of 2,450 transactions on November 8.

Market data from Coinglass shows that trading volume has decreased by 24.83% to $7.42 billion, while open interest in futures contracts has dropped by 4.71% to $1.95 billion.

Options trading volume has decreased by 58.52% to $427.08 million, with open interest in options contracts at $1.18 million.

Based on historical trends, increasing address activity, and the coordination of large transactions, the data suggests that Dogecoin may be preparing for another significant price movement.

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