Dogecoin

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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/dogecoin-experiences-noticeable-increase-in-stock-to-flow-ratio/" data-wpel-link="internal">Dogecoin Experiences Noticeable Increase in Stock-to-Flow Ratio</a> 
Dogecoin’s (DOGE) stock-to-flow ratio saw a noticeable increase between August 18 and 19, catching the attention of <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market</a> observers. This increase marked a significant shift for the meme coin, which had recently experienced notable declines. As of the time of writing, DOGE is trading at $0.1007, reflecting a 40% drop over the past 90 days. However, analyses suggest a price rally for DOGE might be on the horizon. 
<h2 style="text-align: justify" id="will-dogecoin-rise">Will Dogecoin Rise?</h2> 
The stock-to-flow ratio is a model that measures how low the circulating supply of a <a href="https://en.coin-turk.com/crypto-market-expectations-expert-perspectives-from-qcp-capital/" data-wpel-link="internal">cryptocurrency</a> under review is. For instance, if there is a decline in this indicator, it can be interpreted as high inflation for the cryptocurrency under review and a risk of price decline. 
Santiment <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data shows</a> Dogecoin’s stock-to-flow ratio was at 69.25, marking an all-time high for this metric. This unusual rise can be seen as a positive signal for DOGE’s price, indicating a supply squeeze for the cryptocurrency. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-381235" src="https://coin-turk.com/wp-content/uploads/2024/08/doge-1-coin-turk-com-1.png" alt="" width="499" height="186"> 
A supply squeeze in crypto can occur when demand for a coin increases during a scarcity period. Based on the metric, analyses suggest that DOGE’s price could see a noticeable rise in the coming weeks. In addition to the supply fluctuations, both active and new addresses on the Dogecoin network have increased since last week. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-381234" src="https://coin-turk.com/wp-content/uploads/2024/08/doge-2-coin-turk-com-1.png" alt="" width="482" height="283"> 
Consequently, the increase in the number of active and new addresses strengthens the idea that the meme coin’s price could soon recover from its recent downward trend. 
<h2 style="text-align: justify" id="how-much-will-doge-be-worth">How Much Will DOGE Be Worth?</h2> 
Dogecoin’s Global In/Out of Money (GIOM) indicator also provides important insights. This indicator is used to examine whether addresses that have already purchased a cryptocurrency are in profit, loss, or break-even based on their purchase costs and current prices. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-381233" src="https://coin-turk.com/wp-content/uploads/2024/08/doge-in-and-out-coin-turk-com.png" alt="" width="495" height="138"> 
As of the time of writing, analyses show that over 1 million addresses purchased 11 billion DOGE at a maximum price level of $0.098. Additionally, it is not incorrect to say that the accumulation between $0.12 and $0.15 marks a higher level. Therefore, if buying pressure increases, DOGE could move above these resistance points. 
DOGE could rise to $0.15, indicating an approximate 50% increase if the uptrend starts. However, if this level is not breached and the trend remains downward, DOGE’s price could drop to $0.088. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/dogecoin-experiences-noticeable-increase-in-stock-to-flow-ratio/" data-wpel-link="internal">Dogecoin Experiences Noticeable Increase in Stock-to-Flow Ratio</a></h5>
The post <a href="https://en.coin-turk.com/dogecoin-experiences-noticeable-increase-in-stock-to-flow-ratio/" data-wpel-link="internal">Dogecoin Experiences Noticeable Increase in Stock-to-Flow Ratio</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Dogecoin Experiences Noticeable Increase in Stock-to-Flow Ratio

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