Dogecoin Price Recovery Ahead As Investors Add 4.9 Billion DOGE
The post Dogecoin Price Recovery Ahead As Investors Add 4.9 Billion DOGE appeared on BitcoinEthereumNews.com. Key Notes On-chain data shows selling pressure for DOGE among long-term holders has sharply declined, shifting toward accumulation. Technical indicators suggest a bullish setup, and a Dogecoin price breakout above $0.29 could push DOGE toward $0.80. Mid-term holders have returned with strong accumulation in the past two weeks. Dogecoin price has been moving sideways following the rejection at $0.25, currently flirting with $0.21. However, on-chain data indicates that long-term holders are becoming increasingly bullish, setting the stage for a potential DOGE recovery ahead. Over the last two weeks, investors have added 4.9 billion DOGE into their bags, worth a massive $1.98 billion. Dogecoin Price Recovery on Radar With Strong On-Chain Metrics With 2.3% gains in the last 24 hours, Dogecoin is showing signs of price recovery along with the broader crypto market. Despite the recent threats of a Monero-like 51% attack, long-term holders (LTHs) appear increasingly bullish, as the HODLer net position change indicates a sharp decline in selling pressure. The red bars, which typically represent distribution, have nearly vanished, hinting at signs of accumulation. Dogecoin LTH HODLer Position | Source: Glassnode This move from selling to holding could provide a foundation for Dogecoin’s potential recovery in the coming weeks. With fewer LTHs offloading their positions, downward pressure on the Dogecoin price is likely to ease. Combined with continued accumulation, this trend underscores the confidence that major holders maintain in Dogecoin’s long-term outlook. On the other hand, mid-term DOGE holders have also ramped up their accumulation, with a sharp surge in active supply over the past 3-6 months. In the past two weeks alone, these investors have added 4.9 billion DOGE, worth over $1.97 billion, to their portfolios, according to Glassnode data. This uptick in accumulation suggests growing confidence in Dogecoin’s future price trajectory. Mid-term holders appear to be positioning…
The post Dogecoin Price Recovery Ahead As Investors Add 4.9 Billion DOGE appeared on BitcoinEthereumNews.com.
Key Notes On-chain data shows selling pressure for DOGE among long-term holders has sharply declined, shifting toward accumulation. Technical indicators suggest a bullish setup, and a Dogecoin price breakout above $0.29 could push DOGE toward $0.80. Mid-term holders have returned with strong accumulation in the past two weeks. Dogecoin price has been moving sideways following the rejection at $0.25, currently flirting with $0.21. However, on-chain data indicates that long-term holders are becoming increasingly bullish, setting the stage for a potential DOGE recovery ahead. Over the last two weeks, investors have added 4.9 billion DOGE into their bags, worth a massive $1.98 billion. Dogecoin Price Recovery on Radar With Strong On-Chain Metrics With 2.3% gains in the last 24 hours, Dogecoin is showing signs of price recovery along with the broader crypto market. Despite the recent threats of a Monero-like 51% attack, long-term holders (LTHs) appear increasingly bullish, as the HODLer net position change indicates a sharp decline in selling pressure. The red bars, which typically represent distribution, have nearly vanished, hinting at signs of accumulation. Dogecoin LTH HODLer Position | Source: Glassnode This move from selling to holding could provide a foundation for Dogecoin’s potential recovery in the coming weeks. With fewer LTHs offloading their positions, downward pressure on the Dogecoin price is likely to ease. Combined with continued accumulation, this trend underscores the confidence that major holders maintain in Dogecoin’s long-term outlook. On the other hand, mid-term DOGE holders have also ramped up their accumulation, with a sharp surge in active supply over the past 3-6 months. In the past two weeks alone, these investors have added 4.9 billion DOGE, worth over $1.97 billion, to their portfolios, according to Glassnode data. This uptick in accumulation suggests growing confidence in Dogecoin’s future price trajectory. Mid-term holders appear to be positioning…
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