Dogecoin is about to reach 5.4 billion active addresses. Once this level is broken, profitability will increase significantly
Dogecoin transaction volume totaled 8.32 billion in the past 24 hours, with more than a thousand large transactions. Such a high level of activity indicates strong investor interest and strong market liquidity, which is significant
Price chart analysis shows that DOGE has been able to overcome several important resistance levels. The price has recently hovered around $0.121, indicating that momentum is difficult to maintain
However, DOGE has shown resilience and continues to trade above the key 50 EMA support level. If it can sustain above this level, the bullish trend is likely to continue
For DOGE, $0.119, $0.128, and $0.133 are three key price levels to monitor. The $0.119 level is an immediate floor to prevent further losses. If DOGE holds this support level, it may attempt to break through the next resistance level at $0.128
If DOGE is able to break through this barrier, it will be able to test the $0.133 level, which is an important resistance level that, if broken, could push the asset price higher
According to the data, 27% of addresses are currently profitable, while 13% are not profitable. It is important to use this profitability ratio to assess investor sentiment and future price movements. The more profitable addresses, the more optimistic the outlook for DOGE
