key takeaways:
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The active addresses of dogcoin rose 528% to 469,477.
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Dogi’s futures open interest increased by 70% to $ 1.65 billion, indicating strong speculative interest.
On May 13, Dogecoin (Dog) The active address increased by 528%, growing from 74,640 to 469,477, indicating strong network activity and rising investors interest. The boom obtained an update for filing 21Shares for a spot dogcoin ETF, receiving acknowledgment from the US Securities and Exchange Commission (SEC). Financial services firm confirmed Development on X On 14 May.
The filing, which aims to track the price of Dogi, aligns with similar efforts by bitwaiz and granket, indicate the adoption of potential mainstream. This news promoted market optimism, increasing the network activity of Memcoin.
Motion Informed The Dogi Futures Open Interest increased by 70% compared to the previous week, which rose from $ 989 million to $ 1.65 billion despite a recent high level of value. This dickling of open interest and price suggests constant speculative status, a trend Glasnode has been noted as “worth monitoring” for potential volatility.
Dogi has also seen strong spot-by demand, and coinlagraph Informed Dogi’s Spot Taker 90-Divine Cumulative Volume Delta (CVD) is currently the “Taker buyer major”, which reflects more aggressive purchases than selling from the beginning of March.
The pattern Q4 was before $ 0.48 before the 385% rally in Q4 2024. In addition, long -term holders have recently exceeded 0.5 for the Net Unrealless Benefits/Loss (NUPL) (at least 155 days holding), indicating an optimistic “faith” feeling.
Blocking in network activity, increasing betting interest, and dominating the buyers, dogcoin’s dynamics are setting the platform for a possible value, which is its range at a high level.
Related: Price predictions 5/14: BTC, Eth, XRP, BNB, SOL, DOGE, ADA, SUI, Link, Avax
Dogecoin price targets $ 0.40
Crypto analyst trader tardigrade noted The Dogge hit a major resistance level around $ 0.24 with an expectation of a brief consolidation in the next few days. A breakout above this resistance can deliver the dogge to $ 0.40, which indicates a healthy up speed.
Meanwhile, dogcoin proponent kriss pax Thrown light on An inverted head on the 1-day chart suggests a potential growth by $ 0.42 with patterns depicting a rapid brakeout. The businessman said,
“G was stuck between $ 0.22 and $ 0.25. There will be opportunities to buy Dips. Some people will swing the business. But when it is decided to unload $ Dog, you would like to be on board.”
Related: Bitcoin Bulls as a purpose for new all-time high by next week as capital flow
There are no investment advice or recommendations in this article. Each investment and business move include risk, and readers should conduct their own research while taking decisions.
