Dogecoin (Doge), an encrypted currency of dogs, in the spotlight as its network activity suffers from growth. According to the data on the Santiment series, which is shared by the encryption analyst onThe active headlines on the DogCoin network increased by 400 %, reaching approximately 395,000.
In an analysis of its publication Santim On March 14, the platform of analyzes on the series noted that although cryptocurrencies remain pent -up, some altcoins showed mutations emerging in social activity. Ideally, during a decrease in prices at the market level, the sudden rise in whale transactions (which show accumulation) or the growth of the network (indicates an imminent increase in the transactions on the chain). However, this may not be completely the case.
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However, while some of the encryption assets flourish in the benefit of the network, the activity of the whale and social discussions amid a shrinkage for eight weeks in the market, some of them dry. The last weeks have seen a faded work in the market throughout the market; Thus, it is not surprising that we see the assets that depend on speculation, in particular, to see some “cold” (the slightest network activity) of the year at the present time.
On the contrary, Dogecoin appears an increase in activity on the chain, with Santiment named “Top title activity” in the market shrinkage.
The height in the active headlines indicates a significant increase in the user’s activity and participation within the Dogoin ecosystem, which is still a long -term positive indication.
Dogecoin work
At the time of writing this report, Dog has increased by 2.89 % in the past 24 hours to $ 0.1738, and challenged the expectations of the death cross that appeared on the daily chart on March 14.
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Dogecoin has bounced on $ 0.14 support on March 11 and has been distinguished from the past four days in green.
The relief rally is expected to face sale at 0.19. The first indicator of force will be a break and closure above this level. It may pave the way for a march to the simple daily averages of 50 and 200 at 0.242 dollars and 0.248 dollars, respectively. Sellers will try to prevent the bullish trend here, but if the bulls penetrate the resistance, Dogecoin may rise to $ 0.29.
On the other hand, if the DOGE price decreases from its current levels, it enhances the possibility of a breach of less than $ 0.14. Dogecoin may decrease to $ 0.10.
