Dogecoin Down 7%: What Is Going On?
Portfolio Pulse from Khyathi Dalal
Dogecoin experienced a 7% drop, but traders remain optimistic due to a spike in new addresses and technical indicators suggesting a potential bull run. The meme coin's network growth and increased transaction volume are seen as positive signs, though caution is advised if key support levels are lost.
October 01, 2024 | 6:29 pm
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Dogecoin's recent 7% drop is seen as a potential buying opportunity by traders, with new address growth and technical indicators suggesting a possible bull run. However, caution is advised if key support levels are breached.
The article highlights a 7% drop in Dogecoin's price, but traders are optimistic due to a 72% increase in new addresses and positive technical indicators like the RSI. The increase in large transactions and daily active addresses further supports a bullish outlook. However, caution is advised if Dogecoin fails to hold key support levels, which could lead to further declines.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100