Dogecoin crosses $0.1 with 87% holders in profit on 10th-anniversary surge

December 06, 2023 12:25 AM PST | By Invezz

Dogecoin crosses $0.1 with 87% holders in profit on 10th-anniversary surge — Image source: Invezz

Dogecoin’s 10th-anniversary rally

As Dogecoin commemorates a decade since its launch on December 6, 2013, it has achieved a significant milestone by surpassing $0.1.

At press time, Dogecoin (DOGE) was trading at $0.1025 after a 16% surge in 24 hours. This surge represents the highest point for DOGE since mid-April, indicating renewed interest in the popular meme coin.

The rally’s timing aligns with the cryptocurrency’s tenth-anniversary celebrations, adding an extra layer of significance to the price movement.

Whale transactions and on-chain metrics boost

Notably, large-wallet investors, colloquially known as whales, have played a substantial role in Dogecoin’s recent upswing.

Transactions involving DOGE tokens worth $11.94 billion, each exceeding $100,000, occurred in the past week, contributing to the positive trend. On-chain metrics from IntoTheBlock reveal that an impressive 86.29% of DOGE wallet addresses, holding 125.54 billion tokens, are currently in a profitable position. This confluence of factors suggests a bullish outlook for Dogecoin, with potential upward movement in the coming days.

Dogecoin technical analysis and key levels to watch

From a technical standpoint, Dogecoin’s price crossed a crucial hurdle from $0.082994 to $0.088076, reaching $0.1025 early on Monday.

The next resistance range is anticipated between $0.088077 and $0.135291, presenting a potential pathway for further gains. This underscores the cryptocurrency’s resilience and investor confidence as it continues to outperform expectations.

With the bullish indicators in play, the Dogecoin community eagerly awaits further developments in the coming days.

The post Dogecoin crosses $0.1 with 87% holders in profit on 10th-anniversary surge appeared first on Invezz

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