The average age of Doge decreases, according to Santiment:

Dogecoin (DOGE), the iconic cryptocurrency inspired by the Shiba Inu dog, could be on the verge of a new bullish trend. A recent analysis reveals a positive signal that investors often overlook, suggesting a potential significant increase in the value of DOGE in the coming days.

Dogecoin (DOGE) crypto rally

Crypto – Dogecoin, close to a new bullish trend?

Mean Dollar Invested Age is an indicator that measures the average age of each dollar invested in a cryptocurrency. This index is similar to the Mean Coin Age, which calculates the average age of tokens in circulation. Using on-chain data, Mean Coin Age converts coins into their value in USD at the time of their last movement.

According to Santiment, the top five cryptocurrencies - Bitcoin (BTC), XRP, Dogecoin (DOGE), Ethereum (ETH), and Chainlink (LINK) - recorded a decline in their average dollar invested age. However, this decline was especially pronounced in the case of Bitcoin, XRP, and DOGE.

BTC: 439 days (31% younger in 60 weeks)

XRP: 865 days (22% younger in 14 weeks)

Dogecoin (DOGE): 370 days (31% younger in 8 weeks)

This indicates that the oldest and stagnant wallets in the crypto market are putting their coins back into circulation. This increases network activity and can be interpreted in two ways: either HODLers are selling their coins, or new capital is entering the market, purchasing these inactive coins and thereby reducing the average age. Dogecoin (DOGE), in particular, stands out for the speed and magnitude of this decline, suggesting increased activity and a potential price rise in the future. Historically, this trend has been a key indicator of the continuation of the bullish markets of 2017 and 2021.