DOGE! New addresses surged by 155%, can the price rise?
Dogecoin has been gaining a lot of attention recently, with the number of new addresses skyrocketing, it's like riding a rocket! In just seven days, new addresses increased by 102%, active addresses rose by 111%, and even those with zero balance increased by 155%, this is explosive growth! It seems that Dogecoin's appeal is undeniable, more and more people are starting to pay attention to it and join this big family.
However, while the number of addresses is increasing rapidly, the trading volume is a bit lackluster, falling below 40,000. This is puzzling, why do so many people love Dogecoin but aren’t trading much? It seems that Dogecoin needs to make more efforts to let more people know its benefits in order to really take off!
But don’t worry, market sentiment is still quite optimistic. Those traders are all bullish on Dogecoin, with open contracts increasing by 6.38%, reaching 2.05 billion dollars. They are all waiting for Dogecoin to soar!
Looking at the technical indicators, the RSI is nearly approaching the oversold zone, this is a perfect buying opportunity! The price is also stable within the Bollinger Bands, indicating that volatility isn’t too great. As long as Dogecoin can break through the key price level of $0.384, the bullish momentum will be secured!
Are you trapped? When is the right time to buy the dip? As always, if you feel lost and unsure of what to do, click on my profile and follow me.
