10 billion DOGE tokens are approaching the profit zone: what does this mean for Dogecoin.

Dogecoin Price Shows Signs of Potential Bullish Trend

9.91 billion DOGE tokens are on the verge of entering the profit zone.

The price of Dogecoin (DOGE) is showing growth potential and the chances of starting an uptrend are high

The current bullishness of Dogecoin (DOGE) is primarily due to investor greed, as the billion-dollar coin is now on the verge of entering profit territory.

Dogecoin Investors Smell a Profit Is Coming

Popular memecoin Dogecoin is showing significant growth opportunities with investor support. The main reason for this motivation is the 9.91 billion DOGE tokens worth over $1.56 billion purchased between $0.151 and $0.168.

Currently, the price is directly below the upper limit of this range, which means that these coins are entering the profitable zone. This forces investors to seek growth and keeps them from selling their assets.

Further evidence of this sentiment is Dogecoin's Market to Realized Value (MVRV) ratio. This on-chain indicator is used to evaluate investors' overall gains and losses. The 30-day MVRV for DOGE is -14%, which promises investors an intra-month loss.

However, this is also a bullish signal, since readings from -7% to -19% indicate restraint in selling. DOGE holders will prefer to accumulate the asset at such low prices in order to make a profit in the future. Accordingly, this area can be regarded as a zone of opportunity.

DOGE Forecast: What to Expect

The price is currently facing two major barriers at $0.168 and $0.182. The first of these marks the upper limit of the above supply range, and breaking through it could begin a recovery rally.

This is the most likely outcome as investors will continue to move until they see profits. A break above $0.168 could potentially send the meme coin towards $0.182, giving it further gains.

However, if the altcoin fails to break through $0.168 and ends up declining and losing support at $0.151, the bullish scenario will fail. DOGE tokens worth $1.5 billion will be in the loss zone, making the price vulnerable to further correction.

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