In August, Dogecoin’s price remained generally stable, paralleling the downtrend in the cryptocurrency market. However, during this period, Dogecoin’s active user base increased significantly, recently increasing by 32%. This increase suggests that activity around the meme coin has picked up and that it could see a price recovery towards the end of the month.
According to IntoTheBlock, Dogecoin’s daily active addresses have increased by 32% in the last 24 hours. Transaction activity has remained stable throughout the year. Crypto experts are struggling to understand why Dogecoin has not experienced as much growth as its rivals SHIB and FLOKI. At the time of writing, Dogecoin is trading just above the dangerous $0.10 level.
According to IntoTheBlock’s analysis, most Dogecoin holders are in profit. This could lead to investors who are making profits increasing their trading activity. Usually, price action and trading activity increase together, so experts can expect an increase in Dogecoin’s price. Although the meme coin has increased by 1% in the last 24 hours, DOGE seems to be far from the expected growth.
Compared to the same period last year, Dogecoin’s price has increased by 38% to reach the current level of $0.106. However, the asset is still in a downtrend. If Dogecoin fails to break the $0.13 level, a significant pullback is possible. If it does, DOGE could potentially rally towards the $1 level that many traders are hoping for.
According to CoinCodex, Dogecoin’s price could drop by 11% to $0.089 by August 31. Similarly, the token’s price could drop by 13% by September 17. However, if the trading volume and active user count continue to increase, Dogecoin could show a more positive performance by the end of August.
FOR THE GIFT OF 10 DOLLARS PLEASE READ CAREFULLY.
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So who can benefit?
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I EXPLAIN IN DETAILED.
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WHEN WILL THE REWARD COME?
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You can share this post with your friends in need so that they can also benefit from it.
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