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- 🎉 Hey Gate Square friends! Non-stop perks and endless excitement—our hottest posting reward events are ongoing now! The more you post, the more you win. Don’t miss your exclusive goodies! 🚀
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Post your - 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
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1.Publish original content on Gate Square related to PROVE or the above activities (minimum 100 words; any format: analysis, tutorial, creativ - 💙 Gate Square #Gate Blue Challenge# 💙
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4. Submissions must be original and comply with community guidelines. Plagiarism or re - 🎉 The #CandyDrop Futures Challenge# is live — join now to share a 6 BTC prize pool!
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Dare to trade. Dare to win.
These 3 price increase signals are indicating the possibility of Dogecoin price increase.
Dogecoin has recently attracted the attention of analysts and investors as some figures highlight its growth potential. Three notable indicators - whale activity, Market Value to Realized Value (MVRV) ratio, and supply data - shed light on the reasons behind this optimism. The Activity of Whales Shows Confidence in Dogecoin The significant activity of whales in Dogecoin demonstrates a high level of confidence in the future performance of the asset. Data shows that large wallet holders, often considered market influencers, have been accumulating DOGE. This accumulation is typically seen as a price increase signal as it reflects strong belief in the asset's potential. These high-value transactions can drive price momentum and further amplify investor interest.
The recent Dogecoin buying spree by whales highlights the underlying shift in market direction. This buying wave indicates that large holders may predict significant price fluctuations or broader market trends that could impact the value of Dogecoin. MVRV Ratio Entering the "Opportunity Zone" According to MVRV ratios, one of the most important indicators in the cryptocurrency sector, Dogecoin is currently undervalued. In such times, the MVRV rate is low and this presents an 'opportunity zone' for those who want to hold Bitcoin for the long term. Some experts said Dogecoin's current MVRV ratio confirms that the cryptocurrency is in a favorable zone for entry, which could attract high-risk takers.
The Supply Data Shows Lower Selling Pressure Another important factor contributing to Dogecoin's price increase prospects is the decreasing selling pressure. Supply data shows a smaller proportion of DOGE being transferred to exchanges, a trend often indicating a decrease in selling intent. The decrease in money flow into these exchanges can lead to a tighter supply, thereby creating favorable conditions for price increases. With fewer tokens being put into circulation, the likelihood of price increases is higher.