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Dogecoin (DOGE) Long-Term Holders Remain Resilient Amid Price Volatility

July 4 (Cointime) - Dogecoin's price climbed 13% in just five days before dropping below $0.069 again on Monday morning. However, on-chain data suggests that the rally may not be over yet, and long-term Dogecoin holders remain resilient. The mean coin age of DOGE has increased persistently for nearly a month, indicating that investors are holding their coins for much longer.

Despite the price rejection, investors are still queuing up orders to purchase DOGE, and the bulls have placed active orders by 393 million DOGE, while only 244 million DOGE are up for sale. The DOGE price may rise to $0.08 before facing a significant sell-wall, but the bears could seize control if the DOGE loses the $0.06 support.

Dogecoin Dogecoin $0.38
-11.93%
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