Dogecoin

Pace

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/dogecoins-growth-pace-halts-after-holder-increase" rel="noopener noreferrer nofollow">Dogecoin’s Growth Pace Halts After Holder Increase</a><br></p>
<p style="text-align: justify">Recent data depicts a halt in the growth of <a href="https://en.bitcoinhaber.net/dogecoins-prospects-amidst-market-speculations-and-ai-predictions" rel="noopener noreferrer nofollow">Dogecoin</a> (<a href="https://en.bitcoinhaber.net/dogecoin-transfers-stir-curiosity-in-crypto-community" rel="noopener noreferrer nofollow">DOGE</a>) holders after a significant surge in February. Despite the coin’s Relative Strength Index (RSI) remaining in the overbought territory, there’s been a decrease over the past week, signaling ongoing selling pressure. Moreover, the Exponential Moving Average (EMA) lines are forming a pattern suggestive of a bearish turn for DOGE’s value.</p>
<h2 id="growth-surge-and-subsequent-slowdown">Growth Surge and Subsequent Slowdown</h2>
<p style="text-align: justify">Dogecoin experienced a remarkable growth spike between January 30 and February 10, drawing 500,000 new holders and reaching a total of 6.3 million. This increase in investors coincided with a sharp rise in market value, as DOGE’s price soared from $0.084 to $0.18 within a week – an impressive 114% jump. The upward trajectory continued with the holder count reaching 6.51 million by the end of February.</p>
<h2 id="stagnation-and-market-sentiment">Stagnation and Market Sentiment</h2>
<p style="text-align: justify">Despite the initial momentum, recent trends point towards a plateau in interest, with the holder count wavering between 6.56 and 6.57 million from March 9 to March 18. This stagnation could foreshadow a period of price stabilization or correction for Dogecoin. The RSI, while retreating from extreme levels, remains near the overbought threshold, suggesting that the market may be seeking a new equilibrium following the considerable interest earlier in the year.</p>
<p style="text-align: justify">The RSI’s dip from the 80s to 70 in the past fortnight indicates a slight wane in bullish momentum. Traditionally, an RSI above 70 implies that the asset might be over-purchased, which often precedes a pricing adjustment or a consolidation phase. The current state of these indicators is critical for investors and market analysts to watch, as they may dictate Dogecoin’s near-future market behavior.</p>
<p style="text-align: justify">In conclusion, after a period of rapid growth in Dogecoin’s holder numbers and market value, signs of a potential slow down have emerged. The crypto’s RSI suggests that the market is in a phase of reassessment, which could lead to a stabilization or correction in DOGE’s price in the coming weeks.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/dogecoins-growth-pace-halts-after-holder-increase" rel="noopener noreferrer nofollow">Dogecoin’s Growth Pace Halts After Holder Increase</a></h5>

Dogecoin’s Growth Pace Halts After Holder Increase

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