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

December 06, 2023 12:25 AM PST | By Invezz
Follow us on Google News:

In a surprising turn of events for the cryptocurrency community, Dogecoin (DOGE) has surged above $0.1 after breaking the key resistance level at $0.088076, marking its highest value since mid-April.

As the meme cryptocurrency celebrates its tenth anniversary, nearly 87% of DOGE holders find themselves in the green. The surge is accompanied by notable whale transactions exceeding $100,000 and positive on-chain metrics, reinforcing a bullish outlook for Dogecoin.

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.

DOGE price shart

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


The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.

Top Listed Companies