Dogecoin on-chain metrics signal a potential turning point once the crypto market stabilizes
- Dogecoin price hovers around $0.168 on Wednesday after bouncing off its 200-week EMA last week.
- Santiment’s data shows that DOGE utility and whale wallets are rising, hinting at a potential rally ahead.
- A weekly candlestick close below $0.136 would invalidate the bullish thesis.
Dogecoin (DOGE) price hovers around $0.168 on Wednesday after bouncing off its 200-week Exponential Moving Average (EMA) last week. Santiment’s data shows that DOGE’s utility and whale wallets are rising, hinting at a potential rally for the dog-themed memecoin.
On-chain data shows potential breakout ahead
Like most meme coins, Dogecoin has been hammered during the 2-month crypto-wide retracement phase. Despite this correction, Santiment data…
