Dogecoin is Challenging the Price Given by Glassnode: It Could Quickly Reach This Level! - Coin Bulletin

Koinbulteni · 2025-03-27T02:43:36+00:00

Dogecoin'un fiyatının 0.20 $ seviyesine yakın olması, hızlı bir artış potansiyelini gösteriyor; bu seviyedeki arzın yoğunlaşması kısa vadeli bir direnç teşkil ediyor. 0.20 $'ın aşılması, önemli bir alım boşluğu nedeniyle 0.31 $'a doğru bir sıçrama ile sonuçlanabilir. Son HODL dalgası ve düşük vadeli pozisyonlar, rallinin kaldıraç spekülasyonu değil, spot piyasa tarafından tetiklendiğini gösteriyor.

Koinbulteni

2025-03-27 02:43:36

Abstract generation in progress

Dogecoin (DOGE) is approaching the $0.20 level determined by Glassnode, and this situation increases the potential for the price to quickly reach higher levels.

According to the data from the crypto analytics firm Glassnode, 7% of the Dogecoin supply is concentrated at the $0.20 level. This level constitutes the third largest concentration zone after $0.17 and $0.07. Although there were significant purchases around January 22, these wallets likely made purchases earlier and have raised their cost bases. This suggests that the $0.20 level could act as resistance in the short term.

As of now, the price of Dogecoin is trading at 0.202 dollar level. If the 0.20 dollar level is broken, there is a significant supply gap up to 0.31 dollars. This gap increases the possibility of Dogecoin rising rapidly as there is no significant resistance level in between. If the trading volume increases, a breakout momentum can be expected.

15% of the Dogecoin supply has been moved in the last 6-12 months. This is an indicator created by investors who purchased before the November-December rally and are still holding. This also shows that investors’ confidence in Dogecoin is strong.

Since the beginning of March, the HODL wave between 3-6 months has started to increase. This indicates that many investors made purchases between $0.32 and $0.41 in January. If the price returns to these levels, some investors may prefer to sell for profit, which could create a potential resistance for Dogecoin in the future.

Finally, the open positions for Dogecoin futures are at approximately 1 billion dollars at (OI), which is quite low compared to the averages in November-December 2024. The 7-day futures volume shows an increase from the bottom but is still at the October 2024 levels.

It can be said that this rally is driven more by the spot market rather than leveraged speculation. Additionally, the funding rates for Dogecoin have decreased over the last two days and are currently at neutral levels. This also confirms that the rally is not driven by excessive long positions and that the market is directed by spot purchases.

DOGE-4.08%

MAK0.19%

MA-2.49%

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