Dogecoin (DOGE) has stabilized around $0.16 for over a month, suggesting potential reaccumulation. The current price reflects a retracement to critical Fibonacci support levels.
On-chain metrics show an increase in unique addresses holding at least 10,000 DOGE, highlighting growing interest from medium and large holders. This marks a six-month high.
Historical patterns indicate that DOGE’s consolidation often precedes volatility surges. However, past high-profile hype behind DOGE raises concerns, especially with over $3 billion in liquidations in the first quarter.
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