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Dogecoin Liquidity Sweep Signals DOGE Is Ready For A Rally

Dogecoin has been experiencing significant volatility, with a 44% surge followed by a 9% dip since October 10. This dramatic price movement has left analysts and investors cautiously watching the market, unsure of Dogecoin’s next move.

Some believe DOGE is gearing up for a massive rally, driven by renewed interest and momentum. In contrast, others are more skeptical, suggesting that the meme coin may be entering a consolidation phase.

Top crypto analyst Bluntz recently shared a technical analysis on Dogecoin, highlighting its price fluctuated within a 4-hour range. According to Bluntz, the price has taken both sides of this range, resulting in a classic liquidity sweep, a move often seen before a major price shift. 

As Dogecoin remains in this volatile environment, market participants are keenly awaiting further signs to determine whether the next move will be an upward rally or a consolidation period.

Dogecoin Testing Crucial Liquidity

Following recent price movements, Dogecoin is testing crucial liquidity levels, both on the supply and demand sides. Volatility has gripped the market, and uncertainty is leading to growing fear among investors, many of whom anticipate a DOGE rally in the coming weeks. Top crypto analyst Bluntz recently shared a technical analysis on X, highlighting the 4-hour Dogecoin chart showing a clear trading range between $0.15 and $0.133.

Dogecoin liquidity sweep in both sides of the range

Bluntz notes that price action has swept both sides of this range—first the highs, then the lows—before being reclaimed, often indicating a liquidity sweep. This type of price movement is often seen before a larger, directional move, and Bluntz suggests it could create a bullish scenario for DOGE shortly.

He believes that once Dogecoin decisively breaks above this established range, a massive rally will likely follow, potentially taking DOGE to new highs.

However, while Bluntz’s bullish perspective offers hope for investors, Dogecoin’s current volatility and market uncertainty could still lead to sideways trading before any significant breakout occurs. Investors are watching closely for a break of the $0.15 level, which could signal the start of the anticipated upward move.

DOGE Holding Above $0.12

Dogecoin (DOGE) trades at $0.136 after five days of heightened volatility and uncertainty. Over the past two weeks, the price surged, and it is now holding above the crucial $0.12 mark, which acted as a strong resistance level in September and has since transformed into a key demand level. This price point is pivotal, as holding above could signal further bullish momentum.

DOGE holding above $0.12

The daily 200 moving average at $0.128 is another critical support level for Dogecoin. Maintaining strength above this moving average would suggest long-term stability and the potential for DOGE to push toward higher supply levels. However, if the price falls below this level, it could trigger a retrace, causing the recent rally to resemble a short-term “pump and dump” scenario.

If Dogecoin successfully holds above the $0.12 area, a healthy consolidation phase could unfold, setting the stage for a continued uptrend. Investors will closely monitor this level to determine whether the recent price action can maintain its momentum or if further downside is on the horizon.

Featured image from Dall-E, chart from TradingView

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Dogecoin Breaks Above $0.12 Level – Time For DOGE To Catch Up?

Dogecoin (DOGE) has finally broken through the crucial $0.12 resistance level, marking a significant milestone as it surges to catch up with the broader crypto market rally. After weeks of struggling below that key supply zone, DOGE has made a strong move upward, sparking optimism among analysts and investors alike. 

Many investors believe that this breakout could signal the start of a more sustained rally for the meme coin.

Top analyst Daan recently shared key insights, pointing to a bullish outlook for Dogecoin in the coming weeks. According to his analysis, the breakout from $0.12 opens the door for DOGE to capitalize on the current market momentum. 

As Bitcoin and other major altcoins continue to gain strength, Dogecoin investors are closely watching for confirmation of bullish continuation, hoping for further upside potential.

With the market pushing higher and Dogecoin now breaking free from past struggles, many expect the meme coin to deliver impressive gains in the near term.

Dogecoin Making Moves

Dogecoin has surged over 33% since Monday, and it is now holding above its previous resistance level, maintaining bullish price action. This rally has sparked optimism among analysts and investors, as the overall market sentiment remains positive, and many believe that Dogecoin is primed for further gains in the coming weeks.

Top analyst and investor Daan shared a technical analysis on X, highlighting the significance of DOGE’s recent breakout. According to Daan, Dogecoin has successfully broken above the crucial $0.12 horizontal level and the Daily 200 moving average (MA). 

Dogecoin Broke above the $0.12 level and the daily 200 MA

He noted that this breakout signals “pretty much clear skies” for the meme coin, as there is little resistance above this point. However, he also emphasized that $0.12 remains a key level, serving as an invalidation point if the price were to drop below it.

Despite the impressive performance of other meme coins in the market, Dogecoin has lagged behind in recent months. With this breakout, however, many believe that DOGE is finally catching up, and the coming weeks could see even more significant upside for the popular cryptocurrency.

As market conditions remain favorable, all eyes are on Dogecoin to see if it can continue building on this momentum and push toward higher price levels.

DOGE Price Action

Dogecoin is currently trading at $0.14 after a 4% retrace from its recent high of $0.147. This surge saw DOGE break above both the 200-day moving average (MA) and the exponential moving average (EMA), confirming a bullish outlook for the meme coin in the coming weeks. 

DOGE setting new local highs

Analysts and investors are optimistic that Dogecoin will continue its upward momentum, fueled by positive market sentiment.

However, there is a risk that DOGE may face downward pressure if it fails to hold above the crucial $0.129 mark, which aligns with the 200-day MA.

A drop below this level could lead to a deeper retrace, testing the strength of the recent rally. With market conditions remaining volatile, the upcoming week will be key to determining whether DOGE can maintain its bullish trend or if it will enter a period of consolidation or further correction.

Traders are keeping a close eye on this support level, as a successful hold above $0.129 would likely signal more upside potential, while a break below it could dampen the current bullish sentiment. All eyes are on Dogecoin to see how it performs in the critical days ahead.

Featured image from Dall-E, chart from TradingView

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Dogecoin Targets $0.11 As Short-Term Traders Fuel DOGE Price – Details

Dogecoin is now at a crucial demand level after a 4% rise from local lows, stirring serious speculation in the market. The meme coin has caught the attention of analysts and traders, with mixed opinions about its next move. Some believe Dogecoin is preparing for a rally, while others suggest further declines could be ahead.

Key data from IntoTheBlock highlights the importance of short-term traders in driving liquidity for meme coins like DOGE. This cohort of traders remains a significant source of activity, often influencing rapid price fluctuations.

Dogecoin is holding strong above the critical $0.10 level, a key psychological support for the asset. If the price maintains momentum, the next bullish target is around $0.11, which could spark more excitement and buying interest in the market.

As speculation continues, all eyes are on whether Dogecoin can sustain its recent strength or if it will face another wave of selling pressure. The coming days determine the meme coin’s direction in the weeks ahead.

Dogecoin Price Driven By Speculation 

Dogecoin faces intense speculation as investors and analysts express differing views about its future price action. After several weeks of ups and downs, the meme coin has been subjected to massive volatility, reflecting the overall market’s erratic behavior. The uncertainty surrounding Dogecoin has led to heated debates about whether it will rally or continue to fall.

Key data from IntoTheBlock reveals the pivotal role of short-term traders in driving meme coins, particularly Dogecoin. These tokens thrive on hype and speculative trading activity, and DOGE leads the pack with the highest number of active short-term traders.

Over the past week, Dogecoin has seen approximately 113,000 short-term traders, underscoring its dominant position in the meme coin space.

Dogecoin leading in active Memecoin Traders (113K)

Interestingly, DEGEN, a much smaller token, has also attracted around 23,000 short-term traders—similar to Shiba Inu’s, despite DEGEN’s market cap being only 10% of Shiba Inu’s size. This highlights the speculative frenzy within the meme coin ecosystem, where even lesser-known assets garner significant trading activity. Most mid-sized meme coins, in comparison, show only around 4,000 active short-term traders, illustrating Dogecoin’s continued strength.

Despite the speculative nature of these assets, Dogecoin’s ability to attract the most active traders signifies resilience and hints at a potential for future rallies, even amid broader market uncertainty.

DOGE Holding Above $0.10

Dogecoin (DOGE) trades at $0.108, testing the 4-hour 200 moving average (MA) as resistance. Bulls aiming to maintain momentum must reclaim this key indicator to increase prices. The 4-hour 200 exponential moving average (EMA) also sits at $0.1088, just under 1% above the current price. This creates a crucial resistance zone for DOGE.

DOGE testing. the 4H 200 MA.

A clear break above the 200 MA and 200 EMA and the psychological $0.11 mark would likely trigger a rally, pushing the price higher as bullish momentum takes hold. However, failure to reclaim these indicators could lead to a more significant correction. In this case, DOGE could face a drop to $0.088, a key lower demand level, signaling further downside in the coming days.

As Dogecoin continues to test these levels, traders are closely watching for a decisive move that could indicate the next major trend, with the potential for a rally or further decline hinging on whether bulls can reclaim these moving averages and push beyond $0.11.

Featured image from Dall-E, chart from TradingView

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Dogecoin Could Break Yearly Highs ‘Any Moment Now’ – Crypto Analyst

Dogecoin is currently testing a crucial demand level after experiencing a 23% decline from its local highs of $0.13. As the meme coin navigates this turning point, the broader crypto market anticipates a potential rally in the coming weeks, driven by the Federal Reserve’s recent decision to cut interest rates.

However, October kicked off with increased selling pressure, leaving investors searching for signs of strength in Dogecoin’s price action.

Top analyst Mister Crypto has shared a bullish outlook, stating that Dogecoin could begin its next rally “any time now.” His technical analysis highlights key support levels and suggests that the current price could be a launchpad for significant upside movement. 

Despite the recent dip, many traders remain optimistic that DOGE could soon recover and enter a new bullish phase. All eyes are now on whether Dogecoin can hold its critical demand level and break out shortly.

Dogecoin Testing Crucial Demand

Dogecoin is currently surrounded by speculation as investors and analysts offer varying opinions on its future price action. After several weeks of significant ups and downs, the meme coin has seen massive volatility, reflecting the broader market’s uncertainty. Some analysts remain optimistic about Dogecoin’s prospects, while others caution against getting too bullish too soon.

A technical analysis shared by prominent analyst Mister Crypto on X suggests a potentially bullish scenario for DOGE. His analysis highlights a 4-day (4D) price chart, where a bullish triangle pattern has just been broken.

Dogecoin breaking bullish triangle pattern.

This breakout signals a possible rally ahead, which, if realized, could lead to gains exceeding 100%. Mister Crypto’s forecast has sparked renewed hope among Dogecoin traders, who are now carefully managing their risk in anticipation of this potential move.

However, despite the optimism, there is still no clear confirmation that Dogecoin has entered a new bull run. For this bullish scenario to be validated, the price must close above the current demand level and hold support.

Until then, the market remains cautious, and investors are waiting for further price action to confirm whether Dogecoin will break out or continue to trade sideways. With so much speculation and uncertainty, the coming days will be critical for DOGE’s trajectory.

Price Action: Technical Levels To Hold

Dogecoin (DOGE) is currently trading at $0.106 after experiencing an 8% dip since Monday. The price has lost both the 4-hour 200 moving average (MA) at $0.107 and the 200 exponential moving average (EMA) at $0.108, placing DOGE in a precarious position as it now tests crucial demand levels.

DOGE trading below both 4H 200 MA & EMA.

For bullish momentum to return, DOGE needs to break back above these key indicators and reclaim the $0.12 mark. A surge beyond this level could set the stage for a higher push, giving bulls the control they need to shift market sentiment. However, the current market environment remains fragile, and any failure to recapture the 4-hour MAs could signal further downside.

If DOGE fails to hold its current levels, analysts anticipate a deeper correction that could drive the price down to around $0.08, a key support zone.

Traders are watching closely to see if DOGE can stabilize or if more downside is ahead. This makes the coming days crucial for determining whether the meme coin can rebound or face further selling pressure.

Featured image from Dall-E, chart from TradingView

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Dogecoin Analyst Expects A ‘Multi-Year Bullish Breakout’ – 200% Surge Potential

Dogecoin is trading critically, and investors are paying attention as this could shape next week’s price action. After several weeks of volatile market movements marked by sharp ups and downs, the entire crypto market is at a turning point. Many believe this week could set the stage for a massive rally.

Top analysts and investors are weighing in, with prominent crypto analyst Ali sharing compelling data that projects a significant surge for Dogecoin in this cycle. According to Ali, if DOGE can break its resistance levels, it could spark a positive trend for the meme coin. 

This information has impressed many in the crypto space, as Dogecoin has been known for its explosive movements in past cycles. With so much on the line, the next few days could be pivotal for DOGE’s future.

Dogecoin Testing Crucial Resistance

Dogecoin is testing a crucial resistance at $0.115, with bulls waiting for a breakout that could trigger a new rally. According to crypto analyst Ali, Dogecoin potentially repeats a familiar historical pattern, as shared in his technical analysis on X.

Dogecoin multi-year bullish pattern.

Ali’s chart reveals that DOGE has consistently followed a bullish cycle pattern: a breakout from a multi-year descending triangle, a massive 200% surge, followed by a 60% retracement, and then an eventual bull run.

Dogecoin has recently experienced a significant 65% pullback, which many believe could set the stage for its next explosive rally. If this pattern holds, DOGE may be on the brink of another major upward movement. Ali suggests that history often repeats itself in crypto, and Dogecoin appears poised to follow the same path.

If Dogecoin starts pumping, the price action could be fast and aggressive, as has been the case in previous cycles. Investors are encouraged to closely monitor DOGE in the coming days. A breakout above the $0.115 resistance level could signal the beginning of the next bullish phase. This potential rally could bring significant opportunities for those tracking the market closely.

Technical Analysis: Key Levels 

Dogecoin is trading at $0.111 after a modest attempt to test the daily 200 exponential moving average (EMA) at $0.117. The price now faces a potential for a retracement if it fails to reclaim this key indicator. If DOGE cannot break above the 200 EMA, the price will drop to $0.10, signaling a deeper correction.

DOGE trading below the 1D 200 EMA.

On the bullish side, if Dogecoin manages to push past the $0.12 mark, it could spark a new rally. The next significant supply level to test would be around $0.14, presenting a crucial target for bulls looking to gain momentum.

As the market remains uncertain, the coming days will determine whether Dogecoin will continue its upward trend or face further downside pressure. Traders are monitoring these levels, as price action near the 200 EMA will dictate the next major move for DOGE.

Featured image from Dall-E, chart from TradingView

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Dogecoin Whales Scoop Up 1 Billion DOGE: Time For Rally To Return?

On-chain data shows the Dogecoin whales have gone on a significant buying spree in the past day, a sign that could be bullish for DOGE’s price.

Dogecoin Whales Have Purchased Big Over The Last 24 Hours

As pointed out by analyst Ali Martinez in a new post on X, the DOGE whales have been participating in net buying recently. The on-chain indicator of relevance here is the “Supply Distribution” from the analytics firm Santiment, which tells us about the total amount of coins that a given Dogecoin wallet group is holding right now.

In the context of the current topic, the whale cohort is of interest. The range of this group is typically defined as 100 million to 1 billion coins, with only addresses carrying a balance between these cutoffs qualifying for it. At the current exchange rate of the memecoin, this range converts to $10.9 million at the lower and $109 million at the upper end.

Clearly, this cohort corresponds to the large investors and thanks to this size of theirs, they can carry some degree of influence in the market.  As such, the behavior of the whales can be worth keeping an eye on, as it may end up reflecting into the price of the cryptocurrency.

Now, here is a chart that shows the trend in the Dogecoin Supply Distribution for the whale entities over the last few weeks:

Dogecoin Whale Supply

As displayed in the above graph, the Dogecoin supply held by the 100 million to 1 billion coins group saw a sharp increase last month, implying that the whales made large net buying moves.

What followed this accumulation was a rally toward the end of the month, which took DOGE beyond the $0.13 level for the first time since July. Since this peak, though, the asset’s price has taken a significant blow, as the cryptocurrency market as a whole has witnessed bearish winds.

Interestingly, despite the price crash, the supply of the whales has only shown a further increase, implying that the whales are scooping coins up at these lows, believing them to be offering a profitable window into the memecoin.

During the last 24 hours alone, these humongous investors have participated in net accumulation of over 1 billion DOGE, worth $109 million. Given that the last buying spree from the group led to a rally, it’s possible that this one might also result in a similar outcome.

It only remains to be seen, though, whether this latest bet from the Dogecoin whales would pay off as well or not.

DOGE Price

Dogecoin has outperformed the other top coins during the last 24 hours with a rally of almost 5%, which has taken its price to $0.109. Thus, it’s possible the bullish effect of the whale buying may already be starting to take hold.

Dogecoin Price Chart

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Dogecoin Miners In Accumulation Mode, But Is This Really Bullish?

On-chain data shows the Dogecoin miners have been accumulating recently. Here’s what this could mean for the memecoin, based on past pattern.

Dogecoin Miner Supply Has Been Going Up For A While Now

In a new insight post, the on-chain analytics firm Santiment has talked about the role of the miners in the different cryptocurrency markets like Bitcoin and Dogecoin. The indicator of interest here is the “Supply held by Miners,” which, as its name suggests, keeps track of the total amount of tokens that the miners of a network as a whole are carrying in their balance.

When the value of this indicator goes up, it means the miners are receiving net deposits into their wallets right now. Such a trend implies this cohort may be in a phase of accumulation. On the other hand, the metric registering a decline suggests these chain validators are withdrawing a net number of tokens from their balance, potentially for selling purposes.

First, here is a chart that shows the trend in the Supply held by Miners for Bitcoin over the past year:

Bitcoin Supply held by Miners

As is visible in the above graph, the Supply held by Miners and the Bitcoin price has shown some correlation during the past year. As Santiment has explained in the post:

When miners choose to hold onto their coins rather than selling, it’s often a sign that they expect prices to rise, which can create positive momentum in the market. However, when they start offloading large amounts, it can put downward pressure on prices.

Most recently, the BTC Supply held by Miners has been on the rise again after plunging to relatively low levels earlier. Thus, it would appear that these chain validators may be accumulating once more, which can be bullish for the asset.

The relationship that miners show to the BTC price is similar to many other cryptocurrency networks. However, that is not the case with meme coins like Dogecoin.

According to the analytics firm:

If it’s a very speculative-driven asset, you can often pick up an inverse indication between what miners are doing and where the altcoin is going price-wise compared to Bitcoin.

The inverse relationship is visible in the below chart for the Dogecoin Supply held by Miners.

Dogecoin Miner Supply

From the graph, it’s apparent that the Dogecoin Supply held by Miners had plunged back in January, but what followed this selloff from the miners was a sharp surge in the DOGE/BTC ratio.

Over the last couple of months, the chain validators of the asset have seen their supply register a rapid increase. Given the inverse relationship the metric and the price tend to follow, however, this accumulation could be a bearish sign for the asset.

DOGE Price

Dogecoin had made recovery beyond the $0.107 mark earlier, but the memecoin has since gone downhill as it’s back at $0.100.

Dogecoin Price Chart

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Dogecoin Whales Fill Up Bags As DOGE Price Dips 5%

On-chain data shows the Dogecoin whales have gone on a buying spree while the memecoin’s price has declined in the last 24 hours.

Dogecoin Whales Have Increased Their Holdings During The Past Day

As pointed out by analyst Ali Martinez in a post on X, the Dogecoin whales have participated in net accumulation in the last 24 hours. The on-chain metric of relevance here is the “Supply Distribution” from the analytics firm Santiment which tells us about the amount of DOGE that a given wallet group is currently holding.

Addresses are divided into these wallet cohorts based on the number of coins they are carrying. In the context of the current discussion, the 1 million to 10 million coins group is of interest.

This group naturally includes only the holders that own at least one million and at most ten million tokens of the memecoin in their balance. At the current asset price, the lower end of this range converts to around $118,000, while the upper one is equivalent to $1.18 million.

Only the large holders of the DOGE network would qualify for this group. More specifically, the smaller end of the whale cohort would fall inside this range.

Now, here is the chart shared by the analyst that shows the trend in the Supply Distribution for these Dogecoin whales over the past few weeks:

Dogecoin Supply Distribution

As displayed in the above graph, the Dogecoin Supply Distribution for this cohort has increased over the last few days. This would suggest that the whales have been participating in net accumulation.

During the last 24 hours alone, these investors have added more than 60 million DOGE to their wallets, worth around $7.1 million. While this amount isn’t high, the fact that the group hasn’t sold during the latest pullback in the price could be an optimistic sign for the memecoin.

The timing of the buys would certainly suggest that the whales are looking at Dogecoin with a keen eye, jumping on any dip opportunities that appear, as they may end up being profitable.

The indicator may be to monitor in the coming days, though, as things can sometimes quickly change, and any selloffs from these humongous investors could lead to a bearish outcome.

DOGE Price

Dogecoin had broken beyond the $0.127 level during its recent surge, but the coin has seen a retrace in the past 24 hours, taking its price down to $0.119.

The below chart shows what the recent performance of the memecoin has looked like.

Dogecoin Price Chart

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Dogecoin Accumulation: DOGE Millionaires Have Shot Up By 76%

On-chain data shows the total number of Dogecoin millionaires has observed a steep increase over the past month, a sign of strong accumulation.

Dogecoin Millionaires Have Jumped 76% In Past Month

According to data from the market intelligence platform IntoTheBlock, the number of Dogecoin millionaires has been skyrocketing recently. “DOGE millionaires” here refer to the addresses that are carrying at least $1 million in their balance.

The below chart shows how the total number of such addresses has changed over the past month.

Dogecoin Millionaires

From the graph, it’s visible that the Dogecoin investors carrying between $1 million to $10 million worth of coins have seen their total count rapidly go up since the end of February.

This range would include the sharks as well as the smaller of the whales, so this trend would imply interest in the cryptocurrency has sharply risen among these large entities. Following the latest increase, the total count of addresses holding a balance in this range has crossed the 800 mark.

The largest of the investors in the market, those with more than $10 million in DOGE, have also seen their number grow in the same period, as the chart displays.

The population of these humongous whales has now crossed the 200 mark. This means that in all, there are now more than 1,000 millionaires on the Dogecoin network.

This corresponds to a growth of around 76% in the past 30 days, which is a pretty rapid increase. Since the indicator has caught pace, DOGE has also witnessed an impressive rally, which may not be a coincidence.

Naturally, if the number of these millionaires continues to rise into the near future, it would be a sign that big money interest in the memecoin is still furthering, which would be a positive sign for the rally.

DOGE Price Has Enjoyed A Sharp Rally Recently

Towards the end of last month, Dogecoin finally managed to break free of its long spell of consolidation and did so in quite the spectacular fashion as well. As the chart below shows, DOGE has observed a rapid rise in the past couple of weeks.

Dogecoin Price Chart

During this rally so far, Dogecoin has managed to reach a high beyond the $0.20 level. Since this peak, however, the coin has seen some notable drawdown, as it’s now trading around $0.15.

From the chart, it’s visible that the initial sharp crash in the memecoin had occurred at the same time as Bitcoin had plummeted following a breach of its previous all-time high price.

Unlike BTC, though, which has made some significant recovery already, DOGE is yet to close back in on its recent highs. Despite this significant pullback, though, the coin’s investors would still be carrying profits of more than 95% over the past month, showcasing just how strong its recent bullish momentum has been.

In terms of the market cap, Dogecoin is currently the nineth-largest asset in the sector, some distance behind eighth-placed Cardano (ADA).

Dogecoin Market Cap

While Dogecoin still has a comfortable gap to Shiba Inu (SHIB) in tenth, its rival is fast approaching it with a run of a whopping 131% in the past week.

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Is Dogecoin About To Reverse? Key Factors To Watch

These Dogecoin on-chain indicators may be the ones to watch to see if the meme coin has a chance of finding a reversal in the near future or not.

Dogecoin Large Holders Have Been Growing, Old Coins Have Come Alive

In a new post on X, the on-chain analytics firm Santiment has talked about how two on-chain metrics related to Dogecoin have been looking recently. The first indicator of relevance here is the number of DOGE addresses carrying at least 1 million tokens in their balances.

At the current exchange rate, this converts to about $75,800, so this range would include the large investors in the market. In particular, the sharks and whales would fall inside this group. These key investors can hold some influence in the market, so their movements can be worth following.

The below chart shows how the number of Dogecoin sharks and whales has changed over the last few months:

Dogecoin Sharks & Whales

From the graph, it’s visible that the Dogecoin addresses carrying at least 1 million DOGE have registered some notable growth over the past month. During this period, shark and whale numbers on the network have increased by 121.

This would imply there has been interest in the memecoin from the large investors recently. Interestingly, the surge in the number of these addresses has only become sharper since DOGE topped out recently, implying that the sharks and whales have been taking advantage of the lower prices and buying more.

This is certainly a positive sign for a reversal in the asset’s price, as the humongous hands appear to be backing the cryptocurrency at the current levels.

There has also been a signal that may not necessarily be so positive, however. In the chart, Santiment has also attached the data for another metric, called the “age consumed,” which basically tells us about the movement occurring from the dormant tokens on the blockchain.

The dormant coins belong to the “long-term holders” (LTHs), who are the most resolute hands in the sector. When the age consumed metric spikes, it means that these LTHs have decided to finally break their silence.

It’s hard to say about the implications of such a trend on the meme coin’s price, but a possibility that’s always on the table is that the LTHs have in fact made their moves to sell the cryptocurrency.

As is apparent from the graph, the Dogecoin age consumed has registered a huge spike recently, implying that HODLers have been on the move. This can be a sign of selling, but Santiment has pointed out that more often than not, such spikes in the indicator signal a change in direction for the asset’s price.

Between these two signals, one bullish and the other perhaps a bit more mixed, it now remains to be seen how the price of DOGE develops in the coming days.

DOGE Price

Since hitting a top above $0.087 a few days back, Dogecoin has slipped down all the way towards $0.076.

Dogecoin Price Chart