Dogecoin (DOGE) Bulls Set to Take Control After Big Slump
DOGE holders have endured a 25% correction in the past month.
User activity on the network has spiked despite a recent price drop.
Dogecoin transaction volume is signaling an impending rebound.
Dogecoin (DOGE) holders are bracing for a rebound after a 25% correction in February. In spite of the recent price downswing, network activity has been on the rise. Will it be enough to spur the bulls into action?
Positive Divergence as Network Activity Soars
Over the last 30 days, the world’s largest meme coin by market capitalization has dipped by nearly 25%. Still, a critical analysis of on-chain data suggests that increased network activity could spur a rebound.
Data compiled by cryptocurrency analytics firm Santiment has shown a recent spike in Daily Active Addresses on the Dogecoin network.
Since March 1, the number of Daily Active DOGE Addresses has spiked by 40% while prices dropped. The positive divergence between the Dogecoin price and Daily Active Addresses suggests that new crypto market participants may be attempting to buy the dip.
Read More: https://beincrypto.com/dogecoin-doge-bulls-take-control-after-big-slump/
Dogecoin (DOGE) Bulls Set to Take Control After Big Slump
DOGE holders have endured a 25% correction in the past month.
User activity on the network has spiked despite a recent price drop.
Dogecoin transaction volume is signaling an impending rebound....
