These support and resistance levels of Dogecoin (DOGE) are currently important to watch
As the original meme coin starts gaining traction, cryptocurrency trader and analyst Ali Martinez has taken to Twitter to give some crucial recent facts on Dogecoin (DOGE).
Martinez discussed the critical points of support and opposition for the most valuable meme coin by market cap. Dogecoin is now being traded at $0.0809. According to Ali, a crucial support level for the coin is $0.0075; at this price, over 34.38 billion DOGE are held in around 44,000 wallets.
He identified $0.086 as the current level of most resistance while speaking of it. 13.11 billion Dogecoin are currently stored in little fewer than 92,000 wallets. Martinez obtained his data from IntoTheBlock.
“As Dogecoin gains traction, note key levels of support and resistance! DOGE support level is at $0.075, where 44K addresses hold nearly 34.40B coins. The most significant resistance area is at $0.086, with 92K addresses holding 13B DOGE”, Santiment reported.
On February 25, Dogecoin reached a low of $0.0796. Since then, it has been steadily increasing. Nevertheless, after briefly bouncing back, DOGE has been bouncing back and forth between the $0.0802 low line and the $0.0826 level without successfully breaking through to go higher.
This past week, the Coins Pro section of Coins.ph, a significant Philippine cryptocurrency exchange, introduced the well-known meme token, DOGE.
One of the first cryptocurrency trading platforms on the islands, it exposes users to trading pairs between cryptocurrencies and fiat currencies. Wei Zhou, the former CFO of Binance, bought the platform at the beginning of April last year.
Moreover, DOGE was listed by such crypto trading behemoths as Binance and Coinbase in 2019 and 2021. Moreover, Unstoppable Domains has recently introduced Dogecoin as a payment option. This business offers owners of cryptocurrency wallets alternatives to lengthy addresses composed of Latin letters and symbols. They are replaced with a brief, simple-to-remember domain name extension with a cryptographic theme that is not subject to censorship or seizure by authorities.
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