DOGE News: Key Resistance Levels and On-Chain Activity Signal Potential Breakout

Dogecoin (DOGE) is currently trading at $0.37076, approaching critical resistance levels that could determine its next major price movement. The 50-day Moving Average (MA) at $0.37128 and the 0.236 Fibonacci level at $0.36689 form a key confluence zone, which traders are closely monitoring. This technical setup suggests a potential breakout or reversal, depending on market sentiment. Additionally, on-chain data reveals strong activity, with daily active addresses peaking at 1.55 million in November. Current stability in these metrics indicates a possible accumulation phase by smart money investors, further fueling speculation about DOGE's future trajectory.

Dogecoin’s breakout odds: Traders, watch out for THESE price levels!

Dogecoin (DOGE) is gaining attention as it approaches key resistance levels, trading at $0.37076 at press time. The 50-day Moving Average (MA) at $0.37128 meets the 0.236 Fibonacci level at $0.36689, forming a key confluence zone that could spark the next major move. Daily active addresses peaked at 1.55 million in November, with current stability suggesting a smart money accumulation phase. Strong on-chain activity and building price momentum have investors speculating about a potential breakout. Historically, the $0.09 level has acted as a significant resistance barrier for DOGE.

Machine Learning Algorithm Predicts When The Dogecoin Price Will Hit $1

CoinCodex’s machine-learning algorithm has predicted that the Dogecoin price could reach the psychological $1 level by March this year, with a potential increase to $1.04. The algorithm further forecasts a rise to $1.11 by April, representing an approximate 200% increase from its current price. The sentiment around Dogecoin is currently bullish, although the fear and greed index stands at 75, indicating a high level of greed among investors.

DOGE Price Hits $0.42 Monthly High as Dogecoin Whales Pile in

Dogecoin has experienced a significant surge, reaching its highest price in over a month at $0.42. This increase is attributed to the accumulation by large investors, known as whales, who have been actively buying the cryptocurrency. Despite a sharp decline at the end of 2024, where Dogecoin's price fell from over $0.4 to $0.26, it has been steadily recovering. The cryptocurrency managed to maintain a support level at $0.3 during recent market corrections and has since rebounded strongly, reaching $0.38 by Thursday before climbing to nearly $0.42.