CandleFocus Dogecoin Rockets to 8-Month High in Activity, Not Price
2024-10-13
Author: Content Editor
Dogecoin has seen a surge in network activity, with the number of active addresses reaching its highest level in eight months. This growth indicates growing interest and engagement within the Dogecoin community. However, despite the increase in network activity, Dogecoin's price remains in range trading. On-chain analytics firm IntoTheBlock also highlighted that Dogecoin is leading the pack in short-term trader activity among meme coins. The current price of Dogecoin is trending above the 50-day simple moving average (SMA) and is showing signs of rebounding. Bulls need to keep the price above $0.11 to gain an advantage and potentially rally to $0.13. If the price falls below the 50-day SMA, it could indicate a bearish trend and push the price to $0.08.
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