This Key Dogecoin Metric Hit 3-Month High as Analysts Expect Big 2025 for DOGE’s Price

Dogecoin’s price movements in the past month or so have been quite underwhelming as the asset struggles to break through the $0.10 resistance.

However, that could soon change as the interest in its network has picked up while many analysts on X envision a rally in the making.

Rising Number of Transactions

The number of transactions on a certain blockchain depicts the overall interest and usage and hints at investors’ behavior regarding the network and its native token. For Dogecoin, the landscape was quite painful for the past few months as the total number had dropped significantly compared to the yearly peak reached in February.

However, that changed last week. Data from IntoTheBlock shows that the largest blockchain from the meme coin realm processed 1.93 million transactions back then, which was the highest in over three months.

Recall that DOGE’s price was trading well above $0.2 after the network’s record-setting transaction count in February and March this year. Consequently, the rising metric could hint at another upcoming rally for the largest meme coin.

Altseason Triggered by DOGE?

On the topic of DOGE’s price, one of the most popular X analysts (K A L E O) recently posted an update that predicted a sluggish performance in the next few months. Nevertheless, their graph forecasted a massive rally for the meme coin next year, which they categorized as “lit.”

The key resistance to overcome is at $0.11, according to fellow analyst Ali, who mentioned that 23,400 addresses had bought DOGE at that price and currently hold approximately 31 billion. This could trigger potential enhanced selling pressure should they decide to cash out when they break even.

Ted, a crypto analyst with over 120,000 followers, believes the real altseason could start only after a substantial DOGE pump as it did back in 2020/21 and Q4 2023. Their chart shows a similar movement now to the one in 2021, which could lead to a “face-melting” altseason.

The post This Key Dogecoin Metric Hit 3-Month High as Analysts Expect Big 2025 for DOGE’s Price appeared first on CryptoPotato.