🎉 [Gate 30 Million Milestone] Share Your Gate Moment & Win Exclusive Gifts!
Gate has surpassed 30M users worldwide — not just a number, but a journey we've built together.
Remember the thrill of opening your first account, or the Gate merch that’s been part of your daily life?
📸 Join the #MyGateMoment# campaign!
Share your story on Gate Square, and embrace the next 30 million together!
✅ How to Participate:
1️⃣ Post a photo or video with Gate elements
2️⃣ Add #MyGateMoment# and share your story, wishes, or thoughts
3️⃣ Share your post on Twitter (X) — top 10 views will get extra rewards!
👉
DOGE and the big question: Will it break the resistance of 0.175 USD to surge?
Dogecoin (DOGE) is currently not experiencing significant volatility, and that is a major issue. This coin has attempted multiple times to surpass the 0.175 USD level, but still cannot create a convincing breakout.
While the capital flow from whales and the funding rate once suggested a potential breakout, new data tells a completely different story.
The activity address is declining
Although the price of Dogecoin increased at the end of June, the number of active addresses did not change significantly. The daily transaction wallet count – an important indicator of retail demand and natural market participation – remained stable, with only slight increases at certain times.
This is a worrying sign. It shows that the efforts to push the price up do not have support from both new and old users.
The address tracks the wallets interacting with the network every day. When the number of these addresses decreases or shows no growth, it reflects weak user participation and low transaction demand.
Dogecoin is still undervalued
The MVRV Z-Score of Dogecoin is currently below 0, indicating that the majority of DOGE investors are experiencing unrealized losses. This means that the risk of a sell-off from current investors is relatively low.
According to historical observations, Dogecoin often records strong price increases after the MVRV falls into the negative zone. The price of this coin usually hits a bottom right when the Z-Score begins to recover. However, this time that recovery has not yet appeared, and this creates a difference compared to previous cycles.
MVRV Z-Score is an indicator that compares the current market value of DOGE with the average cost of all holders. When this indicator is negative, it indicates that average wallets are in loss, which is often a signal of a low price, but this value can only become positive if there is an increase in buying pressure from new participants.
The price structure is still declining
Dogecoin is currently trading in a descending triangle pattern, with the resistance level at 0.175 USD having been tested multiple times but not broken. Meanwhile, support levels around 0.161 USD have been repeatedly broken and then recovered, indicating that the price structure is gradually weakening over time.
The RSI index is on a downward trend, even as the price of DOGE maintains higher lows – this is a classic sign of bearish divergence. This indicates that although the price seems stable, the fundamental strength of the coin is weakening. The stability of the number of active addresses further reinforces this observation, reflecting weak participation from users.
If the price continues to drop below 0.161 USD once again, the descending triangle pattern will continue and push the price lower. The invalidation zone of this structure will be below 0.156 USD, and if the price breaks that level, a deeper correction will unfold.
However, if the bulls can surpass the resistance level of 0.175 USD, the next resistance will be around 0.183 USD, opening up opportunities for a positive reversal.
Lilly