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February 6, 2025

Title: Encouraging Signs For Buyers As Dogecoin Struggles To Embark On Bullish Trend After November’s Run

Introduction: Dogecoin, the popular memecoin, has faced difficulties maintaining a bullish trend after experiencing significant growth in November. However, there are certain positive indicators that show promise for future success. By examining factors such as open interest, DOGE/BTC pairing, and holder behavior, we can determine if the cryptocurrency will see an upward surge toward higher prices.

Realized Cap HODL Waves Provide Insight Into Market Participants’ Behavior: Santiment data presents the realized cap HODL waves across varying timeframes. These percentages provide valuable information about traders and investors’ behaviors within specific time periods. A growing realization cap signifies increased buying activity in the short to medium term. In comparison to the previous cycle peak in April 2021, the present 30-60 day HODL wave is lower at 27%. Conversely, during this time last year, the figure stood at nearly 52%. Meanwhile, both shorter-term (1-7 days) and long-term (90-365 days) holders appear less interested in selling their assets currently than they did previously. Instead, they expect further increases in value before offloading their tokens.

Conclusion: Despite facing challenges maintaining a bullish trajectory post-November’s run, several aspects indicate potential positivity for Dogecoin moving forward. While short-term holders may remain cautious due to fluctuating market conditions, rising realized cap HODL waves suggest ongoing accumulation among longer-term investors. Therefore, although challenges persist today, continued development and adaptability might ultimately result in greater long-term rewards for those invested in this innovative digital currency.

Source: Ambcrypto.com

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