Dogecoin (DOGE) may experience a surge, with historical signals indicating a potential increase of up to 12,000%.
Recently, the address activity of Dogecoin (DOGE) has significantly increased, with a growth rate of 111%, drawing the market's attention to the possibility of a large-scale rebound. According to historical trends, with the increase in large transactions, the price of DOGE is expected to achieve a new breakthrough, with a potential increase even reaching 12,000%.
DOGE has consistently exhibited significant 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 showed a rise of 476%, a pullback of 56%, and then a staggering increase of 12,000%.
Entering 2024, DOGE has also demonstrated a similar price pattern: after rising from $0.065 to $0.39547, it retraced by 46%. This recurring price movement suggests that DOGE may experience a strong rebound once again.
Currently, the trading price of DOGE is $0.3167, down 1.43% in the past 24 hours and down 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 from 2021. If DOGE continues its historical upward trend, analysts predict its price ceiling could reach $17.94.
According to data from IntoTheBlock, the network activity of Dogecoin shows significant growth. As of November 11, the total number of active addresses has reached 136,850, with 58,990 new addresses, and the growth of active addresses over the past week has been 111.32%.
This growth trend is highly consistent with the period when the price of DOGE rose from $0.065 to $0.39547, indicating that both retail and institutional investors are regaining interest in Dogecoin. #加密市场反弹
