Dogecoin Price Trapped Between Shifting Patterns
The Dogecoin price has been stuck between two shrinking patterns on both its daily and hourly charts, causing uncertainty among traders. The price is currently trading at around $0.06969, off by 0.7% from the previous day. Market capitalization sits near $10.827 billion, with fully diluted valuation matching that number due to a lack of supply cap.
The liquidation heatmap shows a lopsided story, with about $250.49K wiped out in 24 hours and longs taking $211.30K of that hit against just $39.19K for shorts. Exchange volume data also indicates uneven distribution, with Binance dominating at $201.83 million over 24 hours.
On-chain analyst @alicharts noted the recent jump in weekly active Dogecoin addresses as a sign the network is 'waking up,' pointing to the 16% rise in active wallets as an early signal worth watching, even with the price still consolidating. Rising participation against a chart that hasn't picked a direction yet is a combination worth keeping on the radar.