CandleFocus Dogecoin Price Dips 18%, But On-Chain Data Signals Bullish Trend
2024-10-02
Author: Content Editor
Dogecoin (DOGE) has experienced an 18% drop from its recent high, but on-chain data suggests that the bullish trend for the meme coin is still ongoing. Santiment, a blockchain analytics firm, has reported a seven-month high in network activity and a four-month high in whale transactions, indicating the potential for further price increases. Retail investors have been taking advantage of DOGE's price gains. While the coin has risen 14.52% in the past 30 days, it has dipped 8.14% in the past 24 hours and is currently trading at $0.1091. The Dogecoin price action indicates a possible decrease in price if selling pressure increases. However, the Relative Strength Index (RSI) suggests that slightly higher prices may be seen in the near future. It is important to exercise caution and conduct further research before making any financial decisions.
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