Dogecoin Metrics Reveal Increasing Network Activity – Is DOGE Ready To Break Yearly Highs?

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However, if bulls face resistance at this level, a retrace to lower demand zones could provide the liquidity needed to fuel the next leg up.  Related Reading: GOAT Outpaces PEPE Growing To $900M Market Cap In 2 Weeks – Details The heightened network activity is a promising signal for the DOGE community, as it indicates that new interest is backing price action.

Related Reading: Bitcoin Bears Fear A Short Squeeze Above $71,000 As Open Interest Rises To $22.6B With bullish sentiment across the crypto market and DOGE showing solid technical indicators, many analysts view these price levels as potential stepping stones for another rally.

Key metrics from IntoTheBlock reveal that DOGE network activity has spiked multiple times over the past month, a sign of increased engagement that suggests the meme coin could be primed for more gains.  As Bitcoin nears its all-time high, the broader crypto market rally is fueling confidence that DOGE may soon challenge its yearly high of $0.228.

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Author / Journalist: Sebastian Villafuerte

Category: Crypto

Markets: United Kingdom

Topics: Dogecoin price Dogecoin network Dogecoin price analysis Dogecoin Bull Run Dogecoin onchian metrics DOGE Analysis Dogecoin news Dogecoin Doge Dogeusdt

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Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 12:00:32 (2 days ago)

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News Source URL: newsbtc.com

Language: English

Article Length: 513 words

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Copyright Owner: © NewsBTC

News ID: 23338779

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