Rally

Bitcoin

Dogecoin

Investors are excited as <a href="https://en.coin-turk.com/spacexs-bitcoin-report-causes-confusion-in-the-crypto-community/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> has once again surpassed the $42,000 mark after a long period. At the time of writing, the price has reclaimed the critical region. Significant rallies could occur if altcoins start consolidating at such high levels with BTC. The current expectation is to maintain the gains. So, what are the expectations for <a href="https://en.coin-turk.com/dogecoin-doge-on-chain-data-and-price-analysis/" data-wpel-link="internal" rel="noopener noreferrer nofollow">DOGE</a>?
<h2 id="dogecoin-doge">Dogecoin (DOGE)</h2>
On the technical analysis front, the DOGE price appears set to continue its rally due to closures above the resistance area of $0.082. Bitcoin’s effort to push its annual peak further is also promising at the time of writing. Now, the next major resistance DOGE bulls need to overcome is at $0.093.
If Dogecoin breaks this resistance, reaching $0.12 with a 30% increase wouldn’t be surprising. The MACD, upward moving averages, and RSI support the bullish scenario.
<img decoding="async" class="size-full wp-image-284593 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/DOGE-Fiyat-Tahmin-Analiz.png" alt="" width="1053" height="646">
A possible price correction could bring it down to $0.78.
<h2 id="dogecoin-on-chain-commentary">Dogecoin On-Chain Commentary</h2>
Approximately 65% of DOGE wallets are currently in a profitable position. The 29% experiencing losses are now a minority. Profitable <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">investors</a> are especially crucial for the continuation of the price increase, particularly in the current environment. With growing optimism for the coming year, investors concerned about losses are in a more comfortable position to hold their assets.
<img decoding="async" class="size-full wp-image-284594 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/DOGE-5-Aralik-1.png" alt="" width="850" height="330">
There has been a notable increase in the number of DOGE-holding addresses over the last 30 days. This number climbed from 4.97 million to 5.13 million. The current net increase shows that 50,000 new investors are still holding their assets amidst the recent rally.
<img decoding="async" class="size-full wp-image-284595 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/DOGE-Adresleri-1.png" alt="" width="850" height="394">
Last week, we saw more than a 50% decrease in DOGE transactions. However, this should not be interpreted as a negative sign. We should recall the abnormal network activity reported earlier. A sudden drop in activity to average recent levels is not necessarily a bad sign.
<img decoding="async" loading="lazy" class="size-full wp-image-284596 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/DOGE-Aktif-Adresleri.png" alt="" width="850" height="371">
One piece of good news is the 16% decrease in the number of DOGE addresses with zero balance. While some have closed their wallets, a significant portion have turned to accumulation. Social volume remains weak despite the price increase, but we may soon see this metric recover, possibly with Elon Musk’s support, as the DOGE-1 and other space missions approach.
There are 81 large investors who own between 0.1% and 1% of Dogecoin tokens, and there is no decrease here. Addresses that hold approximately 22% of Dogecoin’s supply continue to remain stable. Meme coins can experience serious increases during bull rallies. In light of all these data, whether DOGE investors will profit depends on BTC’s performance. If the king cryptocurrency can reach new peaks, DOGE, along with other altcoins, could see rapid increases. However, BTC has not yet determined its local peak. Continue Reading: <a href="https://en.coin-turk.com/investors-excited-as-bitcoin-surpasses-42000-dogecoins-potential-rally/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/investors-excited-as-bitcoin-surpasses-42000-dogecoins-potential-rally/</a>

Investors Excited as Bitcoin Surpasses $42,000: Dogecoin’s Potential Rally

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