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Dogecoin Network Heats up as Active Addresses Surge 400%
The Dogecoin network is witnessing a significant surge in active addresses, with a staggering 400% increase. This sudden uptrend is expected to be met with resistance from sellers at $0.19. However, if the bulls can break through this barrier and secure a close above it, they might pave the way for a rally to the daily simple moving averages of 50 and 200 at $0.242 and $0.248 respectively.
It’s worth noting that sellers will likely attempt to block any uptrend at these levels. Nevertheless, if the bulls are successful in breaking through this resistance, Dogecoin might potentially rise to $0.29.
On the other hand, should the DOGE price decline from its current levels, it could increase the likelihood of a breach below $0.14, resulting in a potential drop to $0.10.
This significant uptick in active addresses is likely to spark intense interest and debate among investors, traders, and enthusiasts alike. The cryptocurrency market is notorious for its unpredictability, making it crucial for those involved to remain vigilant and adapt to changing circumstances.
As we continue to monitor the situation closely, one thing is certain – the Dogecoin network’s recent activity will undoubtedly have a profound impact on the broader crypto landscape.
U.Today recommends following reputable news sources, staying up-to-date with market trends, and considering diversifying your portfolio as you navigate this fast-paced environment.
Source: https://u.today/dogecoin-network-heats-up-as-active-addresses-surge-400
