6 hour ago
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Dogecoin Analysts Predict $1.30 Target Amid Strong On-Chain Activity
Dogecoin is currently near $0.15, with analysts suggesting a healthier market structure than previous bear phases.
Potential Target and Technical Indicators
- Trader Cryptollica's analysis indicates a potential target of over $1.30 for Dogecoin, using the Mayer Multiple as a key metric.
- The Mayer Multiple is at 0.66005, well below past peaks, indicating non-overheated conditions.
- Alphractal charts show a decrease in the number of days coins have been held at a loss, resembling early reset phases from past cycles.
Strength in On-Chain Data
- Recent data shows 71,589 active addresses, the highest spike since September, indicating increased network activity.
- Whale activity has surged, with 480 million DOGE accumulated by large holders within 48 hours.
- DOGE's cost basis distribution reveals significant resistance at $0.20, where 11.72 billion DOGE were accumulated.
Combined factors such as subdued valuation on the Mayer Multiple, reduced "days at a loss," high active-address spikes, and recent whale accumulation form a positive on-chain outlook. The market's ability to maintain this momentum could determine if higher levels are achieved.
Current trading price: $0.14451.
