{"id":636687,"date":"2024-08-20T17:00:12","date_gmt":"2024-08-20T17:00:12","guid":{"rendered":"https:\/\/wncen.com\/?p=636687"},"modified":"2024-08-20T18:46:37","modified_gmt":"2024-08-20T18:46:37","slug":"dogecoin-faces-supply-squeeze-what-this-means-for-price","status":"publish","type":"post","link":"https:\/\/wncen.com\/dogecoin-2\/dogecoin-faces-supply-squeeze-what-this-means-for-price\/","title":{"rendered":"Dogecoin Faces Supply Squeeze: What This Means For Price"},"content":{"rendered":"

A supply squeeze may be on the horizon for the foremost meme coin, <\/span>Dogecoin (DOGE)<\/span><\/a>. This follows a massive surge in <\/span>DOGE\u2019s stock-to-flow ratio<\/span><\/a>, which is expected to impact its price positively.\u00a0<\/span><\/p>\n

Related Reading: Is Dogecoin (DOGE) Headed For A 40% Slide? This Analyst Thinks So<\/a><\/div>\n

How Supply Squeeze Could Lead To Price Surge For Dogecoin<\/b><\/h2>\n

Data<\/span><\/a> from the <\/span>on-chain analytics platform Santiment<\/span><\/a> shows that Dogecoin faces a supply squeeze, with the meme coin\u2019s stock-to-flow ratio rising. Between August 18 and 19, this stock-to-flow ratio surged to an all-time high (ATH) of 69.25. This metric measures a commodity’s scarcity and indicates a massive demand for Dogecoin.<\/span><\/p>\n

\"dogecoin
Source: Santiment<\/figcaption><\/figure>\n

This development could lead to a supply squeeze for Dogecoin as the demand for the meme coin continues to <\/span>outpace its supply<\/span><\/a>. Such a supply squeeze ultimately drives up prices, meaning that a significant price rally is currently on the cards for Dogecoin. Other on-chain metrics confirm that demand for Dogecoin is rising and that a price surge could happen anytime soon.\u00a0<\/span><\/p>\n

Data<\/span><\/a> from the <\/span>market intelligence platform IntoTheBlock<\/span><\/a> shows that Dogecoin\u2019s large transactions have surged these past few days and hit a 7-day high of 7.37 billion DOGE on August 19. This indicates increased whale activity and suggests that these investors are heavily accumulating Dogecoin ahead of its next leg up, which looks imminent.\u00a0<\/span><\/p>\n

\"dogecoin
Source: IntoTheBlock<\/figcaption><\/figure>\n

Furthermore, this shift to accumulation among <\/span>Dogecoin whales<\/span><\/a> is also evident in the large holders\u2019 netflow, which has spiked by over 3,200% in the last seven days. During this period, this category of investors has recorded more inflows than outflows, indicating that they are adding to their positions and moving them off exchanges.\u00a0<\/span><\/p>\n

\"dogecoin
Source: IntoTheBlock<\/figcaption><\/figure>\n

This massive demand for DOGE isn\u2019t only among the whales, as the meme coin\u2019s trading volume over the last 24 hours suggests that retail investors are also accumulating the foremost meme coin. <\/span>Data<\/span><\/a> from CoinMarketCap shows that Dogecoin\u2019s transaction volume has surged by over 51%, with $625.3 million traded during this period.\u00a0<\/span><\/p>\n

What To Expect From Dogecoin\u2019s Price<\/b><\/h2>\n

Crypto analyst Javon Marks<\/span><\/a> has provided insights into how high <\/span>Dogecoin<\/span><\/a> could rise on its next leg up. The analyst remarked that the meme coin could enjoy a 513% rally to reach the $0.6533 price target. Interestingly, the analyst added that this price surge could happen at \u201chigh speeds,\u201d indicating that it could happen faster than some might imagine.\u00a0<\/span><\/p>\n

\"dogecoin
Source: DOGEUSDT on Tradingview<\/figcaption><\/figure>\n

This bullish prediction followed his analysis of <\/span>Dogecoin\u2019s relative strength index (RSI)<\/span><\/a>, which he noted is nearing a breakout point and diverging with prices. With such bullish signals and prices still broken, Marks is confident that a \u201cmajor bull move\u201d is underway, which would send <\/span>Dogecoin<\/span><\/a> to this price target.\u00a0<\/span><\/p>\n

Related Reading: Litecoin And Dogecoin Whales Move Huge Amounts Amid Whale Activities In The Market<\/a><\/div>\n

At the time of writing, Dogecoin is trading at around $0.1052, up over 5% in the last 24 hours, according to <\/span>data<\/span><\/a> from CoinMarketCap.\u00a0<\/span><\/p>\n

Cover image from Dall-E, chart from Tradingview<\/p>\n","protected":false},"excerpt":{"rendered":"

A supply squeeze may be on the horizon for the foremost meme coin, Dogecoin (DOGE). This follows a massive surge in DOGE\u2019s stock-to-flow ratio, which is expected to impact its price positively.\u00a0 Related Reading: Is Dogecoin (DOGE) Headed For A 40% Slide? This Analyst Thinks So How Supply Squeeze Could Lead To Price Surge For Dogecoin Data from the on-chain analytics platform Santiment shows that Dogecoin faces a supply squeeze, with the meme coin\u2019s stock-to-flow ratio rising. Between August 18 and 19, this stock-to-flow ratio surged to an all-time high (ATH) of 69.25. This metric measures a commodity’s scarcity and indicates a massive demand for Dogecoin. This development could lead to a supply squeeze for Dogecoin as the demand for the meme coin continues to outpace its supply. Such a supply squeeze ultimately drives up prices, meaning that a significant price rally is currently on the cards for Dogecoin. Other on-chain metrics confirm that demand for Dogecoin is rising and that a price surge could happen anytime soon.\u00a0 Data from the market intelligence platform IntoTheBlock shows that Dogecoin\u2019s large transactions have surged these past few days and hit a 7-day high of 7.37 billion DOGE on August 19. This indicates increased whale activity and suggests that these investors are heavily accumulating Dogecoin ahead of its next leg up, which looks imminent.\u00a0 Furthermore, this shift to accumulation among Dogecoin whales is also evident in the large holders\u2019 netflow, which has spiked by over 3,200% in the last seven days. During this period, this category of investors has recorded more inflows than outflows, indicating that they are adding to their positions and moving them off exchanges.\u00a0 This massive demand for DOGE isn\u2019t only among the whales, as the meme coin\u2019s trading volume over the last 24 hours suggests that retail investors are also accumulating the foremost meme coin. Data from CoinMarketCap shows that Dogecoin\u2019s transaction volume has surged by over 51%, with $625.3 million traded during this period.\u00a0 What To Expect From Dogecoin\u2019s Price Crypto analyst Javon Marks has provided insights into how high Dogecoin could rise on its next leg up. The analyst remarked that the meme coin could enjoy a 513% rally to reach the $0.6533 price target. Interestingly, the analyst added that this price surge could happen at \u201chigh speeds,\u201d indicating that it could happen faster than some might imagine.\u00a0 This bullish prediction followed his analysis of Dogecoin\u2019s relative strength index (RSI), which he noted is nearing a breakout point and diverging with prices. With such bullish signals and prices still broken, Marks is confident that a \u201cmajor bull move\u201d is underway, which would send Dogecoin to this price target.\u00a0 Related Reading: Litecoin And Dogecoin Whales Move Huge Amounts Amid Whale Activities In The Market At the time of writing, Dogecoin is trading at around $0.1052, up over 5% in the last 24 hours, according to data from CoinMarketCap.\u00a0 Cover image from Dall-E, chart from Tradingview<\/p>\n","protected":false},"author":594,"featured_media":631782,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[86147],"tags":[1785,7,79600],"class_list":["post-636687","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin-2","tag-doge","tag-dogecoin","tag-dogeusdt"],"acf":[],"yoast_head":"\nDogecoin Faces Supply Squeeze: What 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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. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Dogecoin Faces Supply Squeeze: What This Means For Price","url":"http:\/\/wncen.com\/dogecoin-2\/dogecoin-faces-supply-squeeze-what-this-means-for-price\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/dogecoin-2\/dogecoin-faces-supply-squeeze-what-this-means-for-price\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Dogecoin_d04a7a.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Dogecoin_d04a7a.jpeg?fit=1792%2C1024"},"articleSection":"Dogecoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["doge","dogecoin","dogeusdt"],"dateCreated":"2024-08-20T17:00:12Z","datePublished":"2024-08-20T17:00:12Z","dateModified":"2024-08-20T18:46:37Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Dogecoin Faces Supply Squeeze: What This Means For Price\",\"url\":\"http:\\\/\\\/wncen.com\\\/dogecoin-2\\\/dogecoin-faces-supply-squeeze-what-this-means-for-price\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/dogecoin-2\\\/dogecoin-faces-supply-squeeze-what-this-means-for-price\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/Dogecoin_d04a7a.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/Dogecoin_d04a7a.jpeg?fit=1792%2C1024\"},\"articleSection\":\"Dogecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"doge\",\"dogecoin\",\"dogeusdt\"],\"dateCreated\":\"2024-08-20T17:00:12Z\",\"datePublished\":\"2024-08-20T17:00:12Z\",\"dateModified\":\"2024-08-20T18:46:37Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Dogecoin_d04a7a.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/636687"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=636687"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/636687\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/631782"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=636687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=636687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=636687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}