|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Dogecoin (DOGE) Signals a Potential Bull Run in the Near Term as Network Activities Rise
Sep 19, 2024 at 03:52 pm
Amid the ongoing altcoin recovery triggered by the recent Bitcoin (BTC) price pump above $62k for the first time in September following the first
As the altcoin market continues to recover, thanks in part to Bitcoin’s (BTC) recent climb above $62k for the first time in September and the Fed’s first rate cut on Wednesday, meme coin pioneer Dogecoin (DOGE) is signaling a potential bull up run in the near term.
The large-cap meme coin, which has a fully diluted valuation of about $15 billion and a daily average traded volume of around $706 million, gained nearly 3 percent in the past 24 hours to hover above 10 cents on Thursday.
Rising Dogecoin Network Activities
It is now safe to say that Dogecoin bulls are waiting for the imminent integration with Elon Musk’s backed X platform for the upcoming payment features. In fact, Musk has already teased that Dogecoin will soon be used for merchandise payments on Tesla and Starlink, which will be a huge boost for the dog-themed meme coin.
Dogecoin processed 1.93 million transactions last week, marking the highest weekly transaction count since early July.Although still well below the February peak, this uptick is a promising sign for the $DOGE network. pic.twitter.com/9WfNMAaEZo
According to on-chain data analysis provided by IntoTheBlock, the Dogecoin network processed more than 1.93 million transactions last week, the highest level since early July. As a result, the Proof-of-Work (PoS) secured blockchain has so far processed more than 350 million transitions since its inception.
Moreover, the Dogecoin network boasts over 7.4 million on-chain holders.
What’s Next for DOGE Price
$DOGE weekly chart with 100 week SMA shown here, which continues to show market symmetry for the 3rd time in a row I'm still trying to buy $DOGE at these prices pic.twitter.com/SGGfHbOCf0
Dogecoin price has been forming a similar fractal pattern with the previous major bull cycles. In the weekly time frame, the DOGE price against the US dollar has been retesting the 100 SMA as a robust support level, which could lead to a major bull run ahead.
Despite the death-cross in the daily time frame between the 50 and 200 Moving Averages (MAs), the DOGE price has been forming a reversal pattern. Moreover, the altcoin has established a strong support level around $0.094, whereby a potential triple bottom coupled with rising divergence on the Relative Strength Index (RSI) signals a major bull up run in the near term.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- 5 New Crypto Tokens That Can 10x or 100x Your Money
- Sep 25, 2024 at 12:45 am
- Crypto traders are always looking for new opportunities to 10x and 100x their money. Today, we will be looking at five tokens, Pepe, Ripple, BNB, FET, and Cutoshi, and see which one has the biggest potential for massive gains.
-
- Dogecoin (DOGE) vs GoodEgg (GEGG): Which Meme Coin Will Outperform in 2024?
- Sep 25, 2024 at 12:25 am
- For years, Dogecoin (DOGE) has been the king of meme coins, capturing the hearts of millions with its playful Shiba Inu mascot and the support of
-
- The Open Art (TONX) – A Night Where Innovation Meets Freedom of Expression
- Sep 25, 2024 at 12:25 am
- The Open Art, hosted by Blum, TONX, and TON Society during Token2049, is an event where attendees get to immerse in a night where innovation meets freedom of expression.
-
- Lunex (LNEX) Network: A Revolutionary DeFi Protocol Connecting All Isolated Blockchains into One Non-Custodial Exchange
- Sep 25, 2024 at 12:15 am
- The crypto market has several DeFi exchanges like Uniswap and PancakeSwap, but none of these allow users to exchange cryptos across different blockchains.
-
- SUI and AVAX Surges After the Fed Rate Cut: What's Next?
- Sep 25, 2024 at 12:15 am
- The recent Federal rate cut, which many people take for bad news, was actually a blessing in disguise for cryptos such as Sui (SUI) and Avalanche (AVAX).
-
- Ripple (XRP) Price Prediction: Can XRP Deliver an Explosive Price Gain Soon?
- Sep 25, 2024 at 12:15 am
- A closer look at the crypto market reveals the immense gains many digital assets have delivered in preparation for the year's final quarter.
-
- ALEO Airdrop is Live — Claim Your Free Tokens!
- Sep 25, 2024 at 12:15 am
- Claiming your blockchain ALEO tokens is easy! Just adhere to these quick steps and start using your tokens immediately.
-
- Malone Lam is trending, this time as a hot meme that has risen to become one of the top trading pairs on decentralized exchanges
- Sep 25, 2024 at 12:15 am
- According to on-chain data, the Malone/Solana (SOL) trading pair on the Raydium DEX skyrocked more than 1,000% in 24 hours.