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Dogecoin (DOGE) Price Can Surge To $0.08 Level Hints On-Chain Data!

Dogecoin has been under bearish pressure for a long period now.However, today, the meme currency appears to have received hook push that could boost it right into a recovery phase. The entire crypto market is flashing green, and all of the assets are successful following the Federal Reserve raised its interest levels by 0.75% in this weeks FOMC meeting.

Meanwhile, a well-known crypto analyst, Ali Martinez, is of the opinion that there were some positive developments in the Dogecoin platform which includes led to a rise in the token price.

Dogecoin Addresses Surged By 265% Since May

Martinez claims that there’s been a rise in the brand new DOGE addresses for a price of 265% during the last 8 weeks. It has seen an addition of nearly 14.47k to 38.42k new addresses each day.

Yesterday, July 28, the info revealed that the entire addresses in the Dogecoin network accounted for 4.38 million.

However, through the same time frame, the meme currency dropped by almost 15% and the costs declined from $0.082 to $0.062, due to the high volatility experienced on the market. Nevertheless, Martinez remains optimistic about its recovery.

Once the transaction history is known as, the analyst asserts that DOGE has acquired massive support at the $0.068 level and around 78.25k addresses have attracted 44 billion Dogecoin worth $299 million.

If the currency manages to carry to this level, it might rally to $0.080.

During the last 24hrs, DOGE Price has seen a leg up of 2.02% and is trading at $0.067. While this may seem remarkable, its vital that you understand that the currency continues to be down by a lot more than 90% from its ATH.

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Elena R

Elena can be an expert in technical analysis and risk management in cryptocurrency market. She’s 10+year experience on paper – accordingly she actually is avid journalists with a passion towards researching new insights getting into crypto erena.

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