Is Dogecoin facing a big breakthrough? On-chain signals say yes
Dogecoin could approach a strong outbreak phase, since on-chain data show a wave of increased activity and re-interest from investors.
Since the coin inspired by Memes hovers at $ 0.225, analysts are increasingly optimistic about their potential for a dramatic movement.
A much -noticed analyst, known as Trader Tardigrade, pointed out historical price structures that are similar to the cycle from 2014 to 2018 – an era that ultimately experienced explosive growth. Based on a similar chart pattern, he believes that Dogecoin could prepare for a multi -phase rally that could increase the course in the long term up to $ 18.
This optimistic forecast is supported by the on-chain analyst Ali MartÃnez, which highlights an increase in important key figures: every day active addresses, transaction volume and in particular large-scale wallet activities.
In the last month alone, Dogecoin whales-large owners, who are often viewed as market-moving people-have accumulated more than 1 billion Doge.
Such an aggressive accumulation is often interpreted as a confidence of trust by experienced investors. In combination with the increasing use and the persistently high transaction throughput, these indicators draw a bullish picture for the next development of the coin.
While Dogecoin is still known for his meme status, the current data indicate that something is more serious under the surface.
