This On-Chain Dogecoin Activity Just Pumped 1,100%, DOGE Investors – Buckle Up!

Popular crypto analyst Ali reported a massive surge in Dogecoin on-chain activity, with new addresses spiking 1,100% over the past week. As Ali stated on X (Twitter):

“The Dogecoin network is witnessing a remarkable surge in growth, with new addresses increasing by a staggering 1,100% over the past week! On January 29 alone, a record-breaking 247,240 new DOGE addresses were created, marking an all-time high.”

This huge influx of new users and activity on the Doge network points to growing interest and adoption for the memecoin. As Ali notes, “A sustained uptrend in network expansion could soon reflect positively on $DOGE prices.”

Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger!🤫

The key? Getting in early, especially during the IDO phase. Get in on NuggetRush now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the current ICO prices!

Show more +

Looking at the technical analysis:

  • The RSI (Relative Strength Index) for DOGE is ranging between 50-55 across all timeframes. This indicates neutral momentum, with room for both bulls and bears to take control.
  • DOGE is currently trading above the crucial 200-day EMA (Exponential Moving Average) at $0.07. This shows the long-term trend remains positive.
  • DOGE is up 5% over the past week and has found support above the $0.08 level. This indicates healthy consolidation.
  • The next major resistance zone for DOGE is expected at $0.09, where bulls will likely face selling pressure (see chart below). Breaking above $0.09 could set the stage for further gains.

The on-chain data and technicals both look constructive for Dogecoin. With the memecoin’s passionate community also expanding drastically, DOGE seems primed for its next leg higher. Investors should buckle up!

You may also be interested in:

Check NuggetRush ($NUGX)

Sponsored: Invest Responsibly, Do Your Own Research.
Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
A unique play-to-earn gaming platform in the memecoin market
The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
Fosters a strong community by encouraging physical meetups among members
NFT Integration with Prominent Characters
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!

CaptainAltcoin
Logo