EddieJayonCrypto

 21 Nov 24

tl;dr

Dogecoin has shown a 163% increase this month, signaling stability after a recent surge. The cryptocurrency's active addresses have hit an all-time high, indicating strong investor interest and potential price gains. Market indicators suggest sustained upward pressure on Dogecoin's price, with the p...

Dogecoin has displayed remarkable stability after its recent explosive rally, marking a 163% rise this month. Despite slight fluctuations, the meme coin’s bullish momentum remains intact.

Dogecoin’s active addresses have hit an all-time high, surpassing 1.33 million daily participants. This surge reflects heightened network demand, a bullish indicator for the cryptocurrency.

The Dogecoin Price Daily Active Addresses (DAA) Divergence metric is flashing a strong buy signal, further bolstering Dogecoin’s outlook.

Dogecoin is currently holding steady above the $0.36 support level. To sustain its rally, DOGE must breach and secure $0.45 as a support floor. However, a loss of the $0.36 support level could lead to a correction. In such a scenario, DOGE may drop to $0.32 or lower to $0.28. Any decline beyond $0.28 would invalidate the bullish thesis, signaling the potential for further downside.

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 21 Nov 24
 21 Nov 24
 21 Nov 24