Dogecoin hits 34-day high: Can DOGE maintain its climb?
Release: 2024/07/23 09:04 Reading: 240
- Original author：AMBCrypto
- Original source：https://ambcrypto.com/?p=408671
Dogecoin Surges over 14%, but Market Indicators Signal Caution
Dogecoin's [DOGE] bulls have fueled a surge to a 34-day high, with its price increasing by over 14% in the past week. At the time of writing, DOGE trades at $0.1369 with a market capitalization of $19.88 billion, ranking as the 8th largest cryptocurrency.
Bullish Sentiment and Positive Metrics:
Dogecoin's social volume and weighted sentiment have both seen an uptick, indicating increased popularity and bullish sentiment. Additionally, over 77% of DOGE holders remain in profit, according to IntoTheBlock's data.
Cautionary Market Indicators:
Despite the price gains, DOGE's on-chain metrics paint a more bearish picture. Miner netflow suggests a sell-off trend, and the long/short ratio has declined, indicating rising short positions.
Furthermore, Dogecoin's fear and greed index is in the greed phase, which historically coincides with increased likelihood of price corrections.
Technical Analysis:
Dogecoin's Chaikin Money Flow (CMF) and Money Flow Index (MFI) have shown signs of overbought conditions. This could lead to increased selling pressure, potentially pushing the price down.
Conclusion:
While Dogecoin's recent surge has been impressive, market indicators suggest caution. The combination of miner sell-offs, bearish sentiment, and overbought technical indicators raises concerns about the sustainability of the rally.
Recent news
More>- Homosexual Pepe Solana Memecoin to Rally 18,000% Before Exchange Listing, While SHIB, BONK and DOGE Crash 01-01
- BTFD Presale Captivates Investors in the Best New Meme Coin Presales for Significant Returns as PEPE and SPX6900 Dominate the Scene Fuel the... 01-01
- Homosexual Pepe (HOMOPEPE) Solana Memecoin to Rally 18,000% Before Exchange Listing, While SHIB, BONK and DOGE Crash 01-01
- The Metrics Pointing to Massive Potential for WIF, JASMY, and PEPE in 2025 01-01
- BTFD Coin’s Presale is Unmissable Amid Pepe and Moo Deng’s Crypto Hype: Best Meme Coin Presales to Join This Week 01-01
- Homosexual Pepe (HOMOPEPE) Solana Memecoin to Rally 18,000% Ahead of Exchange Listing, While SHIB, BONK and DOGE Crash 01-01
- Crypto Gems for the Next Quarter: Top 5 Tokens to Watch 01-01
- Why $PEPE Jumped 20% Today And Which Coin Could Be Next 01-01
- Best New Meme Coins to Join for Short Term: BTFD Raises $4.7M in Presale as BONK Boasts Low-Cost Transactions and PEPE Enjoys Steady Followi... 01-01
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Missed Pepe Unchained? Don’t Worry, This New Pepe-Themed Meme Coin Will Produce Bigger Gains in 2025
- 8 Top 4 Altcoins At 70% Discounts – Last Chance!
- 9 Smart $Pepe trader makes $11.7M profit during Market Drop
- 10 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com