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<p><a href="https://twitter.com/santimentfeed/status/1727394869193421035?t=zH-JjYcyDaCcZ-UQ9p6jgw&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">Cryptocurrency analytics platform Santiment </a>recently highlighted some positive on-chain developments for popular meme coin Dogecoin (DOGE). With altcoins regaining momentum, data shows DOGE may be gearing up for a resurgence soon.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="649" src="https://captainaltcoin.com/wp-content/uploads/2023/11/image-590-1024x649.png" alt="" class="wp-image-382947" srcset="https://captainaltcoin.com/wp-content/uploads/2023/11/image-590-1024x649.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-590-300x190.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-590-767x486.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-590-1536x973.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-590-2048x1297.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-590-237x150.png 237w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-590-100x63.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-590-553x350.png 553w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-590-788x499.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-590.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p><em>Source: <strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Santiment" href="https://captainaltcoin.com/go/santiment/" data-shortcode="true">Santiment – Start using it today</a></strong></em></p>
<h2 class="wp-block-heading" id="older-coins-on-the-move">Older Coins on the Move</h2>
<p>According to Santiment, there has been significant movement of older DOGE recently out of stagnant wallets that have been dormant for extended periods. When long-dormant coins suddenly become active, it often signals holders are prepping to take action on future price moves.</p>
<h2 class="wp-block-heading" id="new-mega-whales-accumulating">New Mega-Whales Accumulating</h2>
<p>In addition, Santiment points out that over the past month alone, 121 new Dogecoin wallets holding balances of $1 million or more have emerged. The rapid expansion of these mega-whale wallets illustrates surging institutional and high networth interest in DOGE tokens.</p>
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<p>The combination of aging coins changing hands and major investors ramping up positions illustrates strengthening on-chain fundamentals. As the crypto market sentiment improves, DOGE appears well positioned for a price breakout thanks to robust indicators regarding circulation and accumulation patterns. With altcoins gaining momentum, Dogecoin has solid bullish metrics that could support a prolonged rally if <a class="wpil_keyword_link" href="https://captainaltcoin.com/meme-coins/" title="meme" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">meme</a> coin mania returns. The data merits monitoring DOGE closely at this stage of its market cycle evolution.</p>
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<p>The post <a href="https://captainaltcoin.com/why-you-should-keep-an-eye-on-dogecoin-these-on-chain-metrics-flash-bullish/" rel="noopener noreferrer nofollow">Why You Should ‘Keep an Eye’ on Dogecoin, These On-chain Metrics Flash Bullish</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why You Should ‘Keep an Eye’ on Dogecoin, These On-chain Metrics Flash Bullish

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