Dogecoin (DEGE) entered the radar of investors again with a 7 %rise in the last 24 hours. This increase is supported by the increase in the transaction volume and average retention time of Dogecoin in the market. Investors prefer to increase the amount of their domine. This reinforces the likelihood that the price will rise further while reducing sales pressure. If this momentum is maintained, the price can reach $ 0.32.
The retention time of Dogecoin investors has increased
In the last seven days, Dogecoin’s average holding time increased by 302 %. This shows that investors prefer to keep their dors in their hands instead of sales in the short term. Long retention of usually creates less sales pressure on the market, which allows the price to move upward.
In addition, Dogecoin’s positive funding rate indicates that the long -term expectations of market participants are positive. The current funding rate is 0.0040 %. Positive funding rates indicate that recipients are more dominant in the market and that the demand for long positions increases. This proves that investors expect a stronger price increase in the long term.
Can the Dogue price reach $ 0.32?
Technical indicators point to more rising potential of the price of Dogecoin. Chaikin Money Flow (CMF) indicator reveals that sales pressure is weakened and recipients gain weight in the market. This indicator, which is currently at the level of 0.06, shows that the procurement pressure continues. If this acceleration persists, the price of Dogecoin can reach $ 0.32 in the short term.
However, if the bear market gains strength again, the price of Dogecoin can withdraw to $ 0.24. This support level is critical. If this level is broken, the price of Dogecoin has a risk of falling to $ 0.19. It is important that investors closely follow these levels and determine their strategies according to market conditions.
The increasing retention time of Dogecoin and positive market indicators draw an optimistic picture in the short term. However, in order to make this rise sustainable, market dynamics should be positive and the general trend of the market must be upward.
