Dogecoin (DOGE) in survival mode as whale instincts might kick in after stretched price depression
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Whether or not Dogecoin soars in the near term is dependent on a number of factors, including but not limited to whether or not the inherent sentiment in the meme coin ecosystem improves in the near term, the return of whales to the Dogecoin ecosystem and the revival in the total number of active addresses operating within the top meme coin ecosystem.
The last two factors were showcased, seeing as the on-chain metric tracking the trend is currently down 3.25% and 2.21%, respectively. Despite the dearth of a mega rally in the price of Dogecoin in recent times, there is still a promising luster around the meme coin. This luster is called the DOGE advantage.
Ideally, many DOGE proponents are advocating for accumulation now that the price of the coin is significantly stretched. The rationale is that it can readily welcome any form of a trigger, owing to a The likelihood of DOGE flipping"heads" is high, seeing as it is one of the most volatile altcoins around today, a feature that implies it can Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0.
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