- Dogecoin sees explosive activity with 127,570 active addresses.
- DOGE price sits at a key support zone with $0.21 price.
- The price of DOGE then has to break past a major resistance at $0.36.
In every bull cycle, Dogecoin (DOGE) has been one of the leading memecoins, pumping first among other prominent altcoins. In this ongoing bull cycle, Dogecoin is yet to experience a monumental pump. Presently, Dogecoin sees explosive activity with 127,570 active addresses as DOGE sits at key support level $0.21. Analysts expect this flurry of activity to reflect on DOGE price soon.
Dogecoin Sees Explosive Activity with 127,570 Active Addresses
Known as the pioneer memecoin asset, Dogecoin debuted as a meme to ridicule the sudden appearance of cryptocurrencies. While the creator introduced Dogecoin to be a gimmick, the memecoin grew incredibly popular and became recognized as a token for the community. It was seen as an asset for everyday transactions and community members began rewarding clever comments and small artworks by tipping with DOGE.
Dogecoin became so popular that its became a symbol for what its creator stood against, the growing popularity of cryptocurrencies. This led to the creator walking away from the project and cutting all ties to DOGE. By then DOGE had become a symbol of the people. The Dogecoin community used DOGE to raise funds and support communities in need of help like funding building well and sending financially challenged sportspersons to the Winter Olympics.
But what really blew up Dogecoin was that Elon Musk constantly spoke of the memecoin. He too recognized DOGE as a memecoin and indirectly resulted in price pumps for DOGE. Eventually DOGE was picked up by crypto leaders who further propelled the capabilities of Dogecoin. The asset even influenced Trump and Musk to name the new government body in the US after DOGE.
DOGE Eyes Next Resistance Zone
Every bull cycle the price of DOGE pumps, just like other capable altcoins, to hit new ATHs. This bull cycle has yet to see a significant pump from DOGE. However, given its popularity, several bullish price predictions are emerging for DOGE with the most plausible target being $1. Additionally, the fact that altseason is delayed, giving traders more time to accumulate, has elevated the ATH and cycle top expectation for DOGE to $5, $7, $10, and even $20 .
As we can see from the posts above, DOGE activity now shows over 127,570 active addresses for DOGE showing an explosion of activity on the Dogecoin network. Furthermore, one analyst notes how the price of DOGE is now facing major resistance at $0.36 while it sits at its current price of $0.21, a key support zone. How much longer till DOGE price reclaims its previous ATH at $0.73.
