Dogecoin Price Shows Signs of Recovery as Investors Accumulate 4.9 Billion DOGE
Dogecoin (DOGE) is currently priced around $0.21 after facing resistance at $0.25. On-chain data indicates long-term holders are becoming more bullish, with an accumulation of 4.9 billion DOGE worth $1.98 billion in the past two weeks.
Key Points on Dogecoin Price Recovery
- Recent gains: DOGE has increased by 2.3% in the last 24 hours.
- Long-term holders show reduced selling pressure, indicating a shift towards accumulation.
- Mid-term holders have also added 4.9 billion DOGE in the past fortnight, reflecting growing confidence.
- Technical analysis shows a rounding bottom pattern; a break above $0.29 could lead to significant price movement.
- Potential target: Projections suggest DOGE could reach $0.80 by Q4 if historical patterns repeat.
Dogecoin LTH HODLer Position | Source: Glassnode
Dogecoin accumulation | Source: Glassnode
Maxi Doge Meme Coin Gains Attention
The Maxi Doge meme coin has raised over $1.35 million since its launch, capitalizing on the renewed interest in Dogecoin.
- Ticker: MAXI
- Chain: Ethereum
- Token Price: $0.000253
- Amount Raised: $1,345,510.42