Crypto News

Dogecoin Set for 200% Rally? Here’s the Right Time to Buy

Looking beyond price charts, blockchain data indicates increasing strength in Dogecoin. One of the most glaring signs is the recent sale of more than 155 million DOGE at a loss. Though this can sound bearish, it’s frequently a capitulation, where weak hands throw in the towel, and new entrants get to buy in cheaper. This usually paves the path for the following leg.

Other important signals are:

Rising RSI – now above 50, which is a bullish sign.

Green momentum histogram bars – indicating strength on indicators such as the Awesome Oscillator.

MVRV ratio (Market Value to Realized Value) Down -15% so that a lot of existing holders are underwater. Traditionally, this has been an area where massive rallies get started, as long-term investors buy the dips.

These on-chain signals indicate that Dogecoin is establishing a strong foundation for potential long-term appreciation.

Also Read – The 5 Best Cryptos to Hit $1

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button