{"id":561159,"date":"2023-11-17T14:00:24","date_gmt":"2023-11-17T14:00:24","guid":{"rendered":"https:\/\/wncen.com\/?p=561159"},"modified":"2023-11-17T10:15:40","modified_gmt":"2023-11-17T10:15:40","slug":"dogecoin-doge-rally-starting","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-doge-rally-starting\/","title":{"rendered":"Dogecoin On The Brink: Factors That Indicate A DOGE Rally Is Just Starting"},"content":{"rendered":"

According to on-chain analytics, the <\/span>next strong Dogecoin rally<\/span><\/a> might be closer than we think. The meme token has been giving traders mixed signals for the past month, but signs like on-chain transaction volume and <\/span>DOGE’s mission to the moon<\/span><\/a> are starting to point to the next surge being right around the corner.\u00a0<\/span><\/p>\n

Despite the majority of cryptocurrencies being in the red over the past 24 hours as consolidation and modest selloffs continue, Doge has managed to post a gain of 6.87%.\u00a0<\/span><\/p>\n

Dogecoin Transaction Volume Spikes<\/h2>\n

Price activity indicates that Dogecoin <\/span>has gained more than 10%<\/span><\/a> over the course of the past week. The cryptocurrency <\/span>struggled to post gains<\/span><\/a> like other popular cryptocurrencies for the most part of October’s rally.\u00a0<\/span><\/p>\n

Related Reading: Polygon Network Metrics Explode: Is It Time For MATIC Price To Reach $2?<\/a><\/div>\n

Price data from Coinmarketcap shows the crypto only spiked 19.7% from its October bottom of $0.0579 to end the month at $0.069. However, things changed in early November, as bulls and whales started to <\/span>inject capital into the cryptocurrency<\/span><\/a>. This influx pushed the cryptocurrency over the strong $0.76 support.\u00a0<\/span><\/p>\n

According to crypto analyst Rekt Capital, this <\/span>breakout was the beginning<\/span><\/a> of a shift in trend, with a spike to a $0.15 price target now in formation.<\/span><\/p>\n

Various on-chain monitors reveal that on-chain transactions have spiked at the same time. According to on-chain analytics platform Santiment, Dogecoin reached a total transaction volume of $665 million yesterday, its highest level in three months. Data from Coinmarketcap also puts the total transaction volume in the past 24 hours at $1.83 billion, an increase of over 240% from the previous day.\u00a0<\/span><\/p>\n

\n

\ud83d\udc36 #Dogecoin<\/a> has had a modest +5% surge on a mostly flat #crypto<\/a> market day. It has been aided by $665M in #onchain<\/a> transaction volume, its highest level in 3 months. There is also a notable amount of $DOGE<\/a> longs opening as traders bet on prices rising. https:\/\/t.co\/uFgCCIxih0<\/a> pic.twitter.com\/DussxIPJN2<\/a><\/p>\n

\u2014 Santiment (@santimentfeed) November 16, 2023<\/a><\/p><\/blockquote>\n

Dogecoin <\/span>millionaires figures are currently in decline,<\/span><\/a> but that has not stopped whale activities as large transactions have spiked in the past week amid greater market pullback. IntoTheBlock\u2019s large on-chain transaction metric shows that DOGE’s large on-chain transactions totaled $1.37 billion in the past 24 hours, a 69% increase from the prior day.<\/span><\/p>\n

\"Dogecoin\"<\/p>\n

Source: IntoTheBlock<\/pre>\n
Most of this heightened trading activity can be linked to increasing enthusiasm within the Dogecoin community surrounding robotics company Astrobotic\u2019s <\/span>launch of a physical Dogecoin<\/span><\/a> token to the moon in December. For a token whose price is mostly driven largely by hype and excitement, the anticipation and achievement of this Moon mission could very well start a sustained upward trend for Dogecoin.<\/span><\/p>\n
Related Reading: Crypto Market Cap To $25 Trillion: Cathie Wood Reveals The 2 Coins To Buy<\/a><\/div>\n
Popular trading platform Robinhood has also been a major factor in this uptick in large transaction volume. A series of large-scale transactions linked to Robinhood started on November 7, when it received a <\/span>transfer of 250 million DOGE<\/span><\/a>, worth approximately $18.9 million at the time. Other notable transfers include a transfer of $10.6 million worth of DOGE from Robinhood to an unknown wallet and a <\/span>transfer of 690 million DOGE<\/span><\/a> between two private wallets.<\/span><\/p>\n
According to whale transaction tracker Whale Alerts, 375 million DOGE worth approximately $30.3 million was recently transferred to Robinhood.<\/span><\/p>\n
\n
\ud83d\udea8 \ud83d\udea8 375,000,000 #DOGE<\/a> (30,335,217 USD) transferred from unknown wallet to #Robinhood<\/a>https:\/\/t.co\/g1oWHeGIJN<\/a><\/p>\n
\u2014 Whale Alert (@whale_alert) November 17, 2023<\/a><\/p><\/blockquote>\n
\"Dogecoin<\/p>\n
DOGE bulls take control | Source: DOGEUSD on Tradingview.com<\/a><\/pre>\n
Featured image from CNET, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
According to on-chain analytics, the next strong Dogecoin rally might be closer than we think. The meme token has been giving traders mixed signals for the past month, but signs like on-chain transaction volume and DOGE’s mission to the moon are starting to point to the next surge being right around the corner.\u00a0 Despite the majority of cryptocurrencies being in the red over the past 24 hours as consolidation and modest selloffs continue, Doge has managed to post a gain of 6.87%.\u00a0 Dogecoin Transaction Volume Spikes Price activity indicates that Dogecoin has gained more than 10% over the course of the past week. The cryptocurrency struggled to post gains like other popular cryptocurrencies for the most part of October’s rally.\u00a0 Related Reading: Polygon Network Metrics Explode: Is It Time For MATIC Price To Reach $2? Price data from Coinmarketcap shows the crypto only spiked 19.7% from its October bottom of $0.0579 to end the month at $0.069. However, things changed in early November, as bulls and whales started to inject capital into the cryptocurrency. This influx pushed the cryptocurrency over the strong $0.76 support.\u00a0 According to crypto analyst Rekt Capital, this breakout was the beginning of a shift in trend, with a spike to a $0.15 price target now in formation. Various on-chain monitors reveal that on-chain transactions have spiked at the same time. According to on-chain analytics platform Santiment, Dogecoin reached a total transaction volume of $665 million yesterday, its highest level in three months. Data from Coinmarketcap also puts the total transaction volume in the past 24 hours at $1.83 billion, an increase of over 240% from the previous day.\u00a0 \ud83d\udc36 #Dogecoin has had a modest +5% surge on a mostly flat #crypto market day. It has been aided by $665M in #onchain transaction volume, its highest level in 3 months. There is also a notable amount of $DOGE longs opening as traders bet on prices rising. https:\/\/t.co\/uFgCCIxih0 pic.twitter.com\/DussxIPJN2 \u2014 Santiment (@santimentfeed) November 16, 2023 Dogecoin millionaires figures are currently in decline, but that has not stopped whale activities as large transactions have spiked in the past week amid greater market pullback. IntoTheBlock\u2019s large on-chain transaction metric shows that DOGE’s large on-chain transactions totaled $1.37 billion in the past 24 hours, a 69% increase from the prior day. Source: IntoTheBlock Most of this heightened trading activity can be linked to increasing enthusiasm within the Dogecoin community surrounding robotics company Astrobotic\u2019s launch of a physical Dogecoin token to the moon in December. For a token whose price is mostly driven largely by hype and excitement, the anticipation and achievement of this Moon mission could very well start a sustained upward trend for Dogecoin. Related Reading: Crypto Market Cap To $25 Trillion: Cathie Wood Reveals The 2 Coins To Buy Popular trading platform Robinhood has also been a major factor in this uptick in large transaction volume. A series of large-scale transactions linked to Robinhood started on November 7, when it received a transfer of 250 million DOGE, worth approximately $18.9 million at the time. Other notable transfers include a transfer of $10.6 million worth of DOGE from Robinhood to an unknown wallet and a transfer of 690 million DOGE between two private wallets. According to whale transaction tracker Whale Alerts, 375 million DOGE worth approximately $30.3 million was recently transferred to Robinhood. \ud83d\udea8 \ud83d\udea8 375,000,000 #DOGE (30,335,217 USD) transferred from unknown wallet to #Robinhoodhttps:\/\/t.co\/g1oWHeGIJN \u2014 Whale Alert (@whale_alert) November 17, 2023 DOGE bulls take control | Source: DOGEUSD on Tradingview.com Featured image from CNET, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":561169,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[1785,89174,85675,7,1803,79599,79600],"class_list":["post-561159","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-doge","tag-doge-news","tag-doge-price","tag-dogecoin","tag-dogecoin-news","tag-dogeusd","tag-dogeusdt"],"acf":[],"yoast_head":"\nDogecoin On The Brink: Factors That Indicate A DOGE Rally Is Just Starting<\/title>\n<meta name=\"description\" content=\"According to on-chain analytics, the next strong Dogecoin rally might be closer than we think as the meme coin gives mixed signals.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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