Dogecoin Continues to Rise, But There Are Risks

Significant Rise in Dogecoin

Dogecoin has experienced a 6% increase recently, bolstered by the strong performance of Ethereum, surpassing critical resistance levels. Institutional trading volumes stand out as one of the main factors behind this rise.

Encountered Barrier: Structural Resistance

Despite the rise, Dogecoin faces significant structural resistances. In particular, major moving averages (EMAs) pose a serious barrier. This situation necessitates caution among investors.

User Activity and Network Flow

Increasing user activity is positive for Dogecoin. However, mixed network flows indicate a possible accumulation phase. It is important for investors to shape their strategies while considering this data.