Dogecoin (DOGE) is once again at the center of excitement in the crypto space. Over the days, the meme-inspired cryptocurrency experienced a remarkable surge, gaining 25% in just two weeks. As traders and investors closely watch DOGE’s price movements, a combination of technical indicators and on-chain data offer intriguing insights into what may lie ahead for DOGE.
Dogecoin Price Analysis
According to renowned analyst Ali Martinez, DOGE’s price action has established a crucial support zone between $0.070 and $0.076. Martinez points out that in this price range, a staggering 452,000 wallets acquired a significant amount of DOGE, totaling 51.4 billion coins. On the other hand, the cryptocurrency faces stiff resistance at $0.083 and $0.088, signaling potential hurdles for further upward momentum.
On-chain data firm Santiment adds to the optimism surrounding DOGE, highlighting that the average DOGE trader, active in the past year, is now in profit for the first time in 12 weeks, showi
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