Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Dogecoin (DOGE) Eyes More Gains as Short-Term Investors Extend Holding Time

Dogecoin (DOGE) Eyes More Gains as Short-Term Investors Extend Holding Time

BeInCryptoBeInCrypto2025/01/07 13:00
By:Abiodun Oladokun

Dogecoin's price rally gains momentum with a 23% weekly surge, fueled by short-term holders shifting to longer holding periods. Will DOGE hit $0.48?

Leading meme coin Dogecoin (DOGE) has seen a notable price surge over the past week, outperforming its top meme coin rivals. During this period, DOGE has soared by 23%, outpacing Shiba Inu (SHIB), which has risen 14%, and Pepe (PEPE), which has gained 4%.

With DOGE’s short-term holders (STHs) extending their holding periods, the meme coin’s price could continue its upward trend in the short term.

Dogecoin’s Short-Term Holders Fuel Rally

According to IntoTheBlock, DOGE’s STHs (those who have held the asset for less than one month) have increased their holding time by 110% over the past month.

When STHs of an asset increase their holding time, it signifies a shift in investor sentiment from short-term speculation to a more long-term investment approach. This reduces the overall selling pressure on the cryptocurrency and can help stabilize prices and prevent sharp declines. 

Dogecoin (DOGE) Eyes More Gains as Short-Term Investors Extend Holding Time image 0Dogecoin Addresses by Time Held. Source: IntoTheBlock

Short-term holders (STHs) play a critical role in price dynamics, as they react quickly to market movements and drive immediate fluctuations through their trading activities. When STHs extend their holding periods, they reduce selling pressure, helping to stabilize the asset’s price and potentially create conditions for upward momentum.

Additionally, DOGE’s positive funding rate, which stands at 0.0011% at press time, supports this bullish outlook. This is the periodic fee paid between traders in perpetual futures contracts to keep the contract price aligned with the underlying asset’s spot price.

Dogecoin (DOGE) Eyes More Gains as Short-Term Investors Extend Holding Time image 1Dogecoin Weighted Funding Rate. Source: Coinglass

A positive funding rate means long positions (buyers) are paying short positions (sellers), indicating bullish sentiment and higher demand for leveraged longs.

DOGE Price Prediction: Short-Term Holders Must HODL

If DOGE’s STHs maintain their hodling strategy, its price could extend its upward trend and touch the four-year high of $0.48.

Dogecoin (DOGE) Eyes More Gains as Short-Term Investors Extend Holding Time image 2Dogecoin Price Analysis. Source: TradingView

However, a negative shift in strategy will invalidate this bullish projection. If this cohort of DOGE holders begins to sell for profit, it could cause the meme coin’s price to plunge to $0.299.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!