On-Chain Signals Suggest Potential Dogecoin Price Rally
Alphractal's analysis indicates that Dogecoin (DOGE) may be poised for an upward movement, supported by various on-chain and market signals. Key points include:
- Resilient miner activity with hash rates approaching record highs.
- A stable Network Stress Index indicating no signs of network risk.
- Valuation tools like Alpha Price and CVDD suggest potential price increases.
- Current CVDD Top is at $0.54, which could rise if dormant coins are activated, with targets possibly exceeding $1.
- The setup reflects conditions that have historically led to DOGE price expansions.
Despite these positive indicators, caution is advised due to the current leverage in crypto markets, which could lead to sudden price movements. At press time, DOGE was trading at $0.218.
