Dogecoin Continues Its Rise, But There Are Risks

Significant Surge in Dogecoin

Dogecoin has shown a %6 increase recently, surpassing critical resistance levels, supported by the strong performance of Ethereum. Institutional trading volumes have emerged as one of the main factors behind this rise.

Encountered Barrier: Structural Resistance

Despite the surge, Dogecoin faces significant structural resistances. In particular, major moving averages (EMAs) pose a serious obstacle. This situation demands caution from investors.

User Activity and Network Flow

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