The Coin Days Destroyed (CDD) metric offered insights into the accumulation and movement patterns of Dogecoin among long-term holders.
CDD Metric and Its Significance for DOGE
The 90-day average CDD depicted the idle duration of the coins before any movement. Dogecoin's falling CDD signaled that holders were accumulating DOGE with increased confidence. However, a rise in CDD could indicate that holders were transferring their older coins, typically leading to increased selling.
DOGE Price Stabilization and Breakout
The symmetrical triangle pattern that DOGE followed showed typical stabilization, which could end in powerful price moves. The breakout noted at $0.178 leads to $0.183.
What to Expect from DOGE Price
The price peaked at $0.4000 in late 2024. Growth through $0.2800 could spark altseason, enhancing altcoin value.
Continued accumulation patterns for Dogecoin may create both price stability and upward price potential because positive investor sentiment will grow stronger.
