CandleFocus Waiting for Dogecoin (DOGE) Breakout? Here's When It Can Happen
2024-09-17
Author: Content Editor
Dogecoin holders are closely watching the price as the meme coin approaches a crucial resistance level of $0.11. On-chain data shows that about 23,400 addresses holding 31 billion DOGE are at this level. The bullish signals in on-chain data suggest that a breakout above $0.11 could lead to a significant bullish move. Currently trading at around $0.10, DOGE needs to break above the resistance level to confirm a breakout. If successful, demand may increase, and DOGE could move towards the next resistance levels at $0.12 and $0.13. On-chain data also shows that 71% of DOGE holders are in profit, and strong exchange signals further support a bullish outlook. Despite a decline in large transactions, whales still hold optimism about DOGE's potential. If DOGE fails to break the $0.11 level, it may continue to trade sideways and potentially retest lower support levels around $0.09.
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