Dogecoin’s price has risen 23% over the past week, outperforming top meme coin competitors like SHIBA INU and Pepe. Short-term holders have extended their holding periods by 110%, indicating a shift towards longer-term investment strategies. This change reduces selling pressure, contributing to price stability and potential upward momentum.
A positive funding rate of 0.0011% supports bullish sentiment for Dogecoin. If short-term holders continue with their current holding strategy, DOGE might reach an anticipated price of 0.48 USD. However, a change in strategy toward selling could cause the price to drop to approximately 0.299 USD.
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