Dogecoin (DOGE) On-Chain Data Hints at Possible Path Back to All-Time Highs, Eyes on $21.74 Billion DOGE Sell Wall Amid recent developments, the price of Dogecoin (DOGE) is poised to surge to a new all-time high. IntoTheBlock’s analysis reveals a key factor influencing this recovery: the absorption of 21.74 billion DOGE, currently concentrated in the $0.1636 to $0.671 price range.
With such a large volume held by 953,590 wallets, its holders are currently facing huge losses. However, if this supply issue is resolved, the price of DOGE could surge significantly higher. qun🍺秆👉玮：tq58956 Despite the positive outlook, experts warn that the absorption process could bring selling pressure to the market as the price corridor shifts. Currently, DOGE is valued at $0.152, with a peak of $0.74, highlighting the potential for a significant upside. It is worth noting that the volume in question represents only a small portion of Dogecoin addresses. Data shows that 5.13 million addresses hold 122.75 billion DOGE, accounting for 81.05% of all addresses. While this large amount of ownership provides a solid foundation for the meme cryptocurrency, it also brings the risk of increased selling pressure. Against this backdrop, while on-chain indicators show a clear path for DOGE to new price highs, speculation abounds about market reaction. The Dogecoin community is grappling with speculation on how various factors, including investor sentiment and external market dynamics, will affect the price trajectory of the popular meme cryptocurrency.
