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The Crypto Assets market is once again experiencing a surge, with DOGE standing out particularly. In the past 24 hours, the price of DOGE has soared by 22%, breaking the $0.2 barrier, sparking discussions among investors.
Behind this round of price increase, on-chain data reveals some interesting trends. Since May, most DOGE holders have started to take profits, and long-term holders have also taken action. Data analysis platform Santiment points out that in the past two months, the average holding time and market value realized ratio (MVRV) of DOGE have both declined, suggesting that some long-term investors are gradually cashing out.
As a leader among meme coins, DOGE has a market capitalization of 35.8 billion USD, firmly holding the top position, far surpassing other similar tokens. This week, DOGE's increase has exceeded that of Shiba Inu and Pepe coins. Although it has not been able to catch up with the surge of Bonk, it still demonstrates strong market performance.
Market analysts believe that whether DOGE can hold the support level of $0.25 in the coming days is crucial. If it can stabilize at this level, it may usher in a new round of increases, bringing new opportunities for investors.
However, for new participants in the Crypto Assets market, it is important to pay attention to the following points:
1. Although the rise of DOGE is strong, market volatility remains significant.
2. Some early investors have started to take profits, and the market may face certain selling pressure.
3. Technical indicators show that a pullback may occur in the short term.
4. $0.25 is an important technical support level and has guiding significance for future trends.
5. The meme coin market carries high risks, and investors need to remain rational and manage risks effectively.
Overall, although DOGE has performed well recently, investors still need to act cautiously, closely monitor market trends, and avoid blindly chasing highs. The cryptocurrency market is ever-changing, and reasonable asset allocation and risk control are the keys to long-term success.