Dogecoin's Active Users On The Rise, Will This Impact DOGE Price?
Portfolio Pulse from Bibhu Pattnaik
Dogecoin's daily active users have surged by 32% in the last 24 hours, reaching 55,444 addresses. This increase in network activity could potentially lead to a rise in DOGE's price, which is currently up 2.10% at $0.101. Market observers are watching for a break above the daily SMA 50 at $0.115, which could trigger a new uptrend.
August 17, 2024 | 6:29 pm
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Dogecoin's daily active users have surged by 32%, reaching 55,444 addresses. This increase in network activity could potentially lead to a rise in DOGE's price, which is currently up 2.10% at $0.101. Market observers are watching for a break above the daily SMA 50 at $0.115, which could trigger a new uptrend.
The significant increase in daily active users is a positive indicator of network activity, which often correlates with price movements. The current price rebound and potential break above the daily SMA 50 suggest a possible new uptrend.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100