The article suggests that there are two important metrics indicating a potential drop in the price of Dogecoin (DOGE). The first metric is the Mean Dollar Invested Age (MDIA), which measures the average age of every dollar invested in DOGE. The MDIA has been declining since September 8, suggesting that less capital is being invested in the cryptocurrency and making it vulnerable to a price drop. The second metric is the Address Birth-Death ratio, which compares the rate at which new addresses are adopting DOGE to the rate at which addresses are selling all of their coins. The ratio is currently indicating a higher proportion of retired DOGE wallets compared to newly created ones. Additionally, the article mentions that DOGE's price is on the brink of falling below the 61.8% Fibonacci retracement level, which could confirm a bearish outlook and potentially drive the price down to $0.091. However, if the price holds above this level, the bearish prediction could be invalidated, and DOGE may rise to $0.12.
- Content Editor ( beincrypto.com )
- 2024-09-11
2 Lesser-Known Indicators Predict Dogecoin (DOGE) Price Fall Under $0.10