Dogecoin is currently in a strong position with 93% of its investors making money. This indicates a positive market sentiment and a potential rally in the near future. The price of DOGE has been steadily rising and is approaching the critical resistance level at $0.38. However, DOGE is struggling to hold above the 50 EMA, which is crucial for confirming bullish trends. The profitability of DOGE holders can be attributed to buying during previous consolidations and bull runs. The widespread use and steady support of Dogecoin's community contribute to its profitability. A move above the $0.38 resistance could initiate a new upward trend, but there may also be sell-offs by short-term traders. The $0.30 support level is important to monitor for potential downturns. While DOGE's recent performance and on-chain metrics indicate a possible exit from its consolidation phase, caution is advised. Investors should pay attention to resistance and support levels for successful navigation of the market.



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