- Dogecoin whales have obtained over a trillion token. It is a critical mass that probably makes a course out of the $ 0.22 support.
- Onchain activity and course patterns are reminiscent of past super cycles and indicate a possible Doge rally as soon as the resistance has overcome at $ 0.27.
Dogecoin attracts attention again because Onchain indicators match historical course patterns, which indicates a possible outbreak in the coming months. The blockchain metrics signal considerable accumulation, including increased activity of whales and increasing sales.
Technical analysts also indicate similarities between the current Doge course development and the former Super Cycle formation. Since the token consolidates near $ 0.22, market observers see exactly whether there are signs of a continuing rally that could extend until well into 2025.
In the past 30 days, large Dogecoin whales have accumulated more than a billion doge token, as the blockchain data of the analyst Ali Martínez show. The increase in WAL stocks is remarkable because it is often preceded by major market movements, especially for assets with a high level of participation of private individuals such as Dogecoin. These addresses, which usually hold hundreds of millions of tokens, tend to remain inactive in times of low activity and to hoard before the expected price changes.
There could be indications of institutional purchases, but the information is unclear. However, the constant increase indicates that the assets are considered to be increasing value. Even if times of high accumulation do not always lead to course increases, similar things happened shortly before the last Doge courses 2021 and before.
On-chain activity continues to increase
In addition to accumulation, the network activity of Dogecoin has also shown a constant strength. Metrics such as the daily active addresses and the entire transaction volume have recorded a clear upward trend in recent weeks. These factors are often used to measure the effects on a network and can influence the way the prices behave.
When talking more about one currency, their value often increases. The increase in Dogecoin could be due to both social reasons as well as the positive thinking of the wider market and the greater participation of investors. While Memecoins are most often associated with games, the data show that people also invest more in a more practical way.
Tracking platforms for Dogecoin have found that investors’ activity increases significantly if more people carry out smaller transactions. This indicates that the network sees activities from both types of investors at the same time.
Technical setup reflects historical super cycle
The cryptoanalyst Trader Tardigrade sees similarities between the current market movements of Dogecoin and those who were observed during the period 2014-2018 and 2020-2021. The analyst compares the latest Doge charm characteristics with what was seen in past significant price increases. You can do this by not changing the price, adding more assets when the support is achieved, and aiming to exceed the resistance that has existed for some time.
The phase we are going through is the super cycle 2 or, as it is now called, TARDIGRADE. He refers to a case in which the price of a wealth value increases for a long time, as Dogecoin did in 2021. If things stay as they are, analysts predict that the costs for Doge could continue to increase at the end of 2025.
Exceeding the $ 0.27 mark is the greatest technical difficulty of Dogecoin. An outbreak over this level with clean candles could be sustainable and increase the course. The value of the token is already close to $ 0.22.
Although the data indicate a large market shift, it is still the market and the economy that will decide how things will develop. The level of the BitcoIN course and liquidity usually influences how sensitive dogecoin reacts to price changes.
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