Three Positive Indicators for Dogecoin as It Encounters Significant Resistance Levels

Dogecoin has seen a slowdown in its rally in recent days, but on-chain data suggests a potential upswing. The most significant positive indicator is the volume of DOGE purchased by major investors, or "whales," in the past month, which has exceeded a billion.

Crypto analyst Ali Martinez highlights an increase in active addresses, transaction volumes, and whale activity as supportive factors for further growth. Furthermore, Martinez states that large market players have amassed over a billion DOGE in the past month alone, equivalent to over $220 million considering Dogecoin’s current price.

Despite the price drop in the early months of the year, Martinez believes that if Dogecoin can break through a major resistance area, it could trigger a new bull run.