Dogecoin sees aggressive rally by short-term holders, is it the next big thing in the works?
The impact of the latest sharp crash over the weekend is being felt across the market, too Dogecoin it looks like you have entered Berish country. Although the Doge’s trajectory has held up, short-term holders are currently paying a toll, as they move into a larger buying position.
The biggest pothecoin buying spree continues
In light of the waning action in the price of Dogecoin, short-term investors are showing their presence again in the market. In addition to being The price of December To get the pubback, the on-chain data reveals that these investors appear without a drop; Instead, they see it as a good opportunity to increase their holdings.
by corn by Joao Wedson, market expert and founder of Alphectal, Dogecoin is still in its early stages of development, and for a while Those in charge they accumulate. This strong rally shows growing confidence in the depth of Meme Coin over the long term. Such confidence can rekindle a bullish recovery path after the broader market stabilizes.
According to the HODL Waves chart, short-term holders are attacking multiple doutes every day, which shows a 6-month uptrend. Historically, this trend has been driven by high prices for Dogecoin, It’s a good thingand other coins. The main reason for the higher cap rates is because new speculative money entering the market raises the cap that has been received.
Currently, the MVRV Z-Score does not show that same level of great ecstasy as previous cycles or 2021. Therefore, it shows that the leading meme character still has a place The growth of many values before the cycle ends or reaches the top.
Doge’s top of this cycle does not fit?
Wedson also shared details on whether DoGe has reached the top of the current cycle. In December 2024, Wedson pointed out that Doge reached a long-term high in the current cycle with compound value time (CVDD) alpha, an important metric for determining bottoms and tops.
However, the data from the booking risk indicator means that the Dog title in 2024 was weak and had no interest in the onist chain. Wedson looks at the readings from this key metric as it has accurately predicted all the top dootecoins in the last 9 years.
While Gote is facing bearish pressure, Wedson says that the actions of the managers that monitor daily are important to navigate the direction of the market. His statement is undermined by the fact that continued accumulation would suggest A possible increase in price in the near future.
Related reading: Doge’s house reveals why institutions are now eyeing Dogecoin
Bitcoinsens has it It is predicted That pullback could soon rise to the $1 price tag as the macro picture remains bullish. Despite the recent market volatility, DoGE has held on to higher time frames. Currently, the price is placed above the emergency channel support line. If you should Meme Coin COIN TO AVAILABLE FOR THE HIGHEST RISE alongside a strong bullish trend overall, it is possible to pass The level of $1 and look at $1.40.
Featured image from Pixabay, chart from TradingView.com
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