Dogecoin (DOGE) may experience a surge, with historical signals indicating a potential increase of up to 12,000%.
Recently, the activity on Dogecoin (DOGE) addresses has significantly increased, with a growth rate of 111%, drawing market attention to a potential large-scale rebound. Based on historical trends, with the increase in large transactions, the price of DOGE is expected to achieve a new breakthrough, with potential gains even reaching 12,000%.
DOGE has consistently shown cyclical volatility. In 2017, it first rose by 212% and then retraced by 40%, followed by a surge of 5,000%. In 2021, DOGE's trend was an increase of 476%, a pullback of 56%, and then a massive surge of 12,000%.
As we enter 2024, DOGE has also exhibited a similar price pattern: after rising from $0.065 to $0.39547, it retraced by 46%. This repetitive price movement suggests that DOGE may again experience a strong rebound.
Currently, DOGE is trading at $0.3167, having fallen by 1.43% in the past 24 hours and 21.23% over the past week. Its market capitalization has reached $46.66 billion, with a 24-hour trading volume of $4.37 billion. DOGE remains within its long-term logarithmic price channel, with support levels at $0.065 and the $0.19-$0.20 range, while resistance levels are at $0.39547 and the historical high of $0.73665 in 2021. If DOGE continues its historical upward trend, analysts predict its price ceiling could reach $17.94.
According to IntoTheBlock data, the network activity of Dogecoin shows a significant increase. As of November 11, the total number of active addresses reached 136,850, with 58,990 new addresses, and the growth rate of active addresses over the past week was 111.32%.
This growth trend aligns closely with the period when DOGE's price rose from $0.065 to $0.39547, indicating that retail and institutional investors' interest in Dogecoin is on the rise. #加密市场反弹
