クリプトドットイン

暗号に強い人材のためのオルタナティブ・リンクトイン

Despite A Stormy Market, Dogecoin Addresses Skyrocket To Over 6 Million

-

によって

で

Dogecoin has been a focal point in the cryptocurrency world, and a mix of positive and negative signals is setting its future. On one hand, the number of Dogecoin addresses has been increasing. On the other hand, the recent technical analysis gives less reason for optimism over the short to medium term. What must investors make of this dual narrative?

Dogecoin Rising Adoption: Silver Lining

Data from the latest charts on Crypto Daily Trade Signals reveal that the number of Dogecoin addresses with a balance has grown to 6.56 million, up 20% from eight months ago. Such an adoption swing indicates that more people are holding on to their DOGE for further gains. This has developed into a strong vote of confidence in the cryptocurrency while its price has been unable to gain traction.

#Dogecoin Addresses Hit 6.56M
IntoTheBlock’s addresses metric highlights a continued increase in the total number of Dogecoin addresses with a balance. In the last eight months, addresses in the ecosystem grew 20.1% to 6.56 million from 5.43 million. Dogecoin price decline since… pic.twitter.com/A3im2BrcV0

— Crypto Daily Trade Signals (@cryptodailyTS) August 16, 2024

This optimism, however, is somewhat offset by several short-term indicators. According to IntoTheBlock, the price of Dogecoin has been trending down despite the steady increase in active addresses. The Fear & Greed Index currently rests at 25, which translates to “Extreme Fear,” a direct indication that the market is in a state of worry. This often leads to increased selling pressure, further depressing prices.

Bearish Short-Term Forecast: Should You Be Worried?

Technical analysis by crypto price prediction platform CoinCodex indicates further bearish action in the immediate future for Dogecoin. It is estimated that by September 16, 2024, Dogecoin will drop by 14% to a price target of $0.087023. This is supported by the fact that over the past 30 days, Dogecoin has only spent eight days positive, indicative of its downward trend.

The price volatility has been high at 11% over the last month, indicating extreme swings in prices and uncertainty in the market. This kind of volatility at these levels, along with such extreme fear in the market, further indicates that there may be more downward pressure on Dogecoin in upcoming weeks. In that case, this may not be a good time for one to invest in DOGE.

Contradictory Signals: What’s The Real Story?

The contrast between the rising number of Dogecoin addresses and a bearish price forecast is rather puzzling. On one hand, the growing user base could be viewed as an ultra-bullish sign: more interested people and prospects for further development. On the other hand, negative technical indicators and fearful sentiment of the market cast a shadow.

A falling wedge that usually has a bullish bias in price action has dominated Dogecoin recently. Though this is the case, considering market conditions, such a breakout looks unlikely in the near future. In the setting of the resistance at $0.11, analysts are not very sure that it shall be reached due to the existing bearish sentiment.

Dogecoin is in a mixed-signal situation at the moment. While the adoption continues to increase, the short-term technical analysis leans bearish. The Fear & Greed Index, coupled with the recent price performance and high volatility, is all indicating that the market does not favor Dogecoin at this point.

Featured image from ZyCrypto, chart from TradingView

コメント

コメントを残す

メールアドレスが公開されることはありません。 ※ が付いている欄は必須項目です

最新フィード

人気カテゴリー

ja 日本語
ja 日本語 en_US English ro_RO Română et Eesti ko_KR 한국어 ru_RU Русский de_DE Deutsch es_ES Español zh_CN 简体中文 fr_FR Français zh_TW 繁體中文 pt_PT Português it_IT Italiano pl_PL Polski tr_TR Türkçe nl_NL Nederlands id_ID Bahasa Indonesia el Ελληνικά uk Українська bg_BG Български cs_CZ Čeština fi Suomi hu_HU Magyar lv Latviešu valoda lt_LT Lietuvių kalba nb_NO Norsk bokmål sk_SK Slovenčina sl_SI Slovenščina sv_SE Svenska

ウェブサイトを検索

人気記事

タグ

#AlexeyPertsev (1) #Bidenクリプトバン (1) #Biden選挙 (1) #BinanceVsCoinbase (1) #ビットコイン (444) #BitcoinETF (3) #ビットコイン基礎知識 (1) #ビットコインの取り扱い (1) #Bビットコイン価格 (5) #BitcoinPriceLevel (1) #BitcoinPump (1) #BitcoinReserve (1) #ビットコイン・サージ (1) #Bitcoinトップ (1) #Bitfinex (1) #ビットワイズ (1) #BracebridgeCapital (1) #BRC20トークン (1) #BTC取得 (1) #Bullish予測 (1) #Bullishセンチメント (1) #中国鉱業 (1) #CPプレビュー (1) #CryptoAsset (2) #CryptoBattle (1) #CryptoBoom (1) #CryptoExpert (1) #CryptoInsights (1) #クリプトマニア (1) #CryptoMarket (4) #CryptoPrediction (1) #Crypto予測 (1) 1TP5トリプトレギュレーション (2) #CryptoTakeoff (1) #CryptoTiming (1) #CryptoTips (1) #CryptoTreasury (1) #CryptoUncertainty（暗号の不確実性 (1) #Dデリバティブジャンプ (1) #Dogecoin (74) #Dogecoinゲイン (1) #Dogecoinボリューム (1) #ダッチコート (2) #ECコマース (1) #ElSalvadorビットコイン (1) #Ethereum (71) #EthereumPain (1) #EthereumPrice (1) 1TP5専門家の意見 (1) #Fedレートカット (1) #FiatCurrency (1) #フィナンシャル・インパクト (1) #フィナンシャル・プライバシー (1) #Firmシャットダウン (1) #F凍結アカウント (1) 1TP5自己資金 (1) #InflationData (1) 1TP5投資 (1) 1TP5投資損失 (1) #日本ファーム (1) #法的措置 (1) 1TP5法的影響 (1) #法律 (1) #LightningNetwork (1) #市場分析 (3) #Mマーケットモニタリング (1) #M市場予測 (1) #市場予測 (1) #M市場予測 (1) #Mマーケットサポート (1) #マーケットボラティリティ (1) #マリッジ (1) #MemeCoin (5) #Memeコイン (2) #Miner収益性 (1) #マネーロンダリング (2) #MtGox (4) #北朝鮮暗号 (1) #ノボグラッツ予想 (1) #Priceマイルストーン (1) #P価格予測 (2) #Price質問 (1) #プライスサージ (1) #Prisonセンテンス (1) #QuantAnalysis (1) 1TP5規制圧力 (1) #SECアンチクリプト (1) #ShibaInu (6) #SocialBuzz (1) #技術分析 (1) #トンコイン (3) #トルネードキャッシュ (3) #TornadoCashDev (1) #TornadoCashデベロッパー (1) #UKクリプト (1) #Upsideポテンシャル (1) #USCongress（米国議会 (1) #ワイオミングランド (1) #XRP価格 (1) #XRPupswing (1)

お役立ちリンク

私が役に立ち、共有したいと思ったリンク