Dogecoin (DOGE) has experienced a 28% gain over the past week, indicating the possibility of surpassing its highest price this year. The rally has been driven by increased buying pressure, significant whale accumulation, and positive comments from Elon Musk. On-chain metrics, such as the Market Value to Realized Value (MVRV) Long/Short Difference, suggest that the rally may continue. The MVRV Long/Short Difference has entered the positive region for the first time since July, indicating a bullish sign for long-term holders. Dogecoin has also seen an increase in new and active addresses, suggesting sustained user engagement. The price has exceeded the supply zone at $0.16, potentially indicating further upward momentum. The demand zone at $0.10 has become a notable support level. The forecast is for Dogecoin's highest price this year to reach $0.23, but it is dependent on network activity and demand.



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