Bitcoin has surpassed the $42,000 level again, exciting investors. Experts suggest that significant rallies could occur if altcoins consolidate at these high levels. The current expectation is to maintain the gains.
Dogecoin‘s technical analysis shows that it can continue its rally by closing above the resistance level of $0.082. Bitcoin’s efforts to push its year-end peak even higher are also promising. The next major resistance level for DOGE bulls to break is at $0.093.
If Dogecoin breaks this resistance, reaching $0.12 with a 30% increase would not be surprising. MACD, rising moving averages, and RSI support the bullish scenario.
Currently, approximately 65% of DOGE wallets are profitable, while 29% are experiencing losses. Profitable investors are particularly important, especially for the continuation of price increases in the current environment. With increasing optimism for the new year, some investors are in a more comfortable position to hold their assets without worrying about losses.
There has been a significant increase in the number of addresses holding DOGE in the past 30 days. This number has risen from 4.97 million to 5.13 million. The current net increase indicates that 50,000 new investors are still holding their assets in the new rally environment. Large investors continue to hold between 0.1% and 1% of Dogecoin tokens, and there is no decrease in this address. Meme coins can experience significant increases during bullish rallies. The profitability of DOGE investors will depend on the performance of BTC. If the king cryptocurrency can reach new highs, other altcoins, including DOGE, may see rapid growth.