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- The derivative activity throws itself as dogecoin from the demand zone and targets $ 0.19.
- The influx of whales and the improvement of the MVRV supports this bull outlook despite the decreasing network activity.
Dogecoin [DOGE] He bounced sharply from the lower boundary of his vice -month trading channel and set fire to the renewed bull sentiment.
This technical reflection coincides with 15.78% increase In an open interest rate of $ 2.09 billion and an explosive increase in options of options by 402% – which imagines that traders aggressively place upwards.
This step indicates a growing speculative interest, which is likely to focus on a resistance of $ 0.19, with a possible continuation towards $ 0.26 if it has momentum.
Strong enough to turn resistance?
The Duge price increased from the demand zone of $ 0.13 – 0.15, while the bull pressure gained traction. Stochastic RSI has exceeded over 80, suggesting a potential continuation of the ascending trend.
However, the descending line of resistance near $ 0.19 still limits price progress. A daily candle near this trend line could signal escape and trigger other bull momentum.
Until then, Doga remains in technical compression between historical support and dynamic resistance.
Therefore, the bulls must maintain a shopping pressure to question this floor barrier and maintain short -term dynamics towards $ 0.26.
Source: TradingView
Whale activity returns as an inflow of Spot Flip strongly positive
After weeks of persistent runoffs, Dogecoin recorded a net tide of $ 8.23 million at the time of writing, signaling the restoration of whale trust.
This tide means a significant shift in the behavior on the chain, suggesting that the large holder accumulates again.
Historically, such an tide coped with the bull twists or medium -term gatherings. Therefore, this positive Netflow supports DOGE’s recent technical bouches and could help maintain the transition to $ 0.19.
However, if the influx of re -tide, the price force may be short -term. The activity on the chain reflects the improvement of sentiment so far.
Dogecoin can unlock more up by…
Dogecoin Mvrv Z-Skone bounced at 0.355 after immersion at almost historical minimum at the end of June.
This metric, which measures the profitability of the holder compared to the market value, suggests that DOGE is recovering from underestimation.
Although the score remains under the bull values, the ongoing climb indicates that the risk of the disadvantage is decreasing. This shift could encourage the participants to become again and increase the pressure of the ascending price.
However, the MVRV remains an indicator of lagging and the price must violate the level of key resistance to verify the sentiment. Yet, improvement of Z-score, adds Doge’s view of Bull’s weight.
Why does network activity lose steam again?
Despite the recent reflection of the price, Dogecoin’s activity in the chain slowed sharply. Daily active addresses dropped to 33.7 K, while the number of transactions dropped to 14.8 K from 3 July.
This means a steep decline since the increase in 22 June, when both metrics exceeded 500k. Such contraction in use indicates the suffering of retail interest and potentially weakens dynamics behind the current rally.
However, the DOGE Award historically led the activity and did not follow it. Therefore, if the current bull pressure continues, the connection to the network could briefly lag.
Will Dogi $ 0.19 hit and break out?
COFUENCE OF DEGECOINA support, the involvement of growing derivatives and the influx of renewed whales creates favorable settings for continued movement up.
However, success depends on whether the bulls can push down a descending resistance of nearly $ 0.19. While the MVRV Z-Score and Netflows point to an improvement in sentiment, expectations of low network activity.
If Doga breaks above resistance to a strong volume, the path to $ 0.26 opens. Until then, the momentum hangs in balance and the bulls must remain active to maintain the assembly.
