Dogecoin (#DOGE ) active budget count has reached its highest level in the last eight months.

Cryptocurrency analyst Ali Martinez made statements regarding the technical and fundamental outlook of Dogecoin ($DOGE ). Martinez thinks that Dogecoin can make sharp increases from the downtrend. According to the analyst, there may be a 200 percent increase in DOGE. One of the most important elements that can support the rise is on-chain data. The increase in active Dogecoin budget numbers may be a harbinger of a new bull run.

The positive progress of on-chain data and the increase in Dogecoin's active address numbers were another reason for analysts to expect an increase in DOGE. Martinez announced that active DOGE addresses reached 133,880, the highest results in the last eight months. The increase in the number of active addresses is seen as the growth's view of the parity has increased again and new users have arrived.

Experts see it as another force in Dogecoin's revival. DOGE whales have accumulated 2.07 billion DOGE in over a week. This accumulation may indicate increased confidence in Dogecoin.

Dogecoin (DOGE) expectations have not yet been met One of the important factors for Dogecoin is the performance of the memecoin market. For now, most memecoins are strong. However, DOGE has not yet gained the expected momentum. Whether Dogecoin, which has been in the background with the beginning of the cat memecoin trend, will be able to make a breakthrough again is awaited with curiosity.

Possible money outflows from memecoins such as cat memecoins, PEPE, NEIRO and WIF will permanently push the Dogecoin price to higher levels. In addition, Elon Musk has the power to trigger a price upwards in the direction of Dogecoin.

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