While the wide crypto market continued to be corrected, the Dogecoin (Dogge) price lost more than 9 %and started to test the critical support level, $ 0.16. However, on-Chain (Blockchain) activities show that Doge’s gaining a positive momentum is soon possible again. Within the last 24 hours, a 270 %increase in active addresses, while the rise in Dogge whale activities drew attention. This shows that large investors have started to purchase from decreases and that there may be a recovery in the future.
Is there an expectation of rise for Dogecoin?
Crypto Analyst Ali Martinez drew attention to the importance of a critical support level in this period when Dge approaches the lower limit of the current price channel. According to Martinez, staying above $ 0.16 is very important for Dogecoin to maintain its momentum and to experience potential strong recovery. In the light of the latest data, the cost of the Dogecoin is currently trading at $ 0.1726 with a decrease of 9.29 %. The daily transaction volume increased by 115 %to $ 2.01 billion. In addition, open positions decreased by 12.91 %to $ 1.45 billion, while 24 -hour liquidations rose to $ 21 million. Previously, Ali Martinez said that if the bulls could hold above $ 0.16, Dogge could climb to $ 2.74 or even $ 6.24.
Despite the general decline in the market, there are positive developments for Dogecoin. On-Chain data shows that active addresses on the Doge network increase by 270 %in the last 24 hours and rise from 71,750 to 264,000. This great increase strengthens the interest in Dogecoin and the likelihood of potential recovery. On the other hand, the largest whales in the Doge network reported that they have collected 1.7 billion in the last 72 hours. This great accumulation shows that important players can prepare for the next big move and their interest in breast coin has increased. In addition, the highest levels of the Dogecoin wallet addresses to the highest level of all time signals that there may be more momentum.
Critical support areas for Doge
Anonymous Anonymous Analyst “ThegifT94”, on the other hand, has determined potential demands that the Doge price will become stable under intense sales pressure. In the analysis shared on TradingView, the analyst identified three “purchasing demand zones olabilir that may affect Dogecoin’s price movement. The first support zone, $ 0.20, Dgecoin’s price decreased to $ 0.1678 after a decrease of 13 %yesterday. Analyst also stated that the levels of $ 0.16 and $ 0.13 are important support areas for Doge and that these levels should be closely monitored.
As a result, despite its current decrease, the price of Dogecoin, increasing ten-achain activities and whale mobility carries a potential recovery for investors. It is foreseen that if Dge holds above critical support levels, a significant price movement can be realized.
