The Dogecoin is gently crushed high. The coin has grown by nearly $0.25, up 17% over the past month and has traded over 50% in three months, showing a strong recovery even after a 2% DIP per day. Dogecoin Price Rally isn’t loud. It is stable, and data on the chain suggests deepening convictions among holders.
With both old and new wallets being added to the supply and a bullish chart structure formed, Dogecoin prices can quickly attempt to move 20% more than $0.32.
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Two key on-chain metrics show an increase in confidence among Dogecoin investors.
The used coin age band, which measures the number of coins in different age groups, plummeted nearly 88% from 486.7 million on September 16th, just 58.5 million on October 6th. This includes coins that are held for several years to several years.
As with Dogecoin, when the number of used coins drops while the price rises, it often indicates that holders believe the trend will continue.
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At the same time, Hodl Waves, which tracks the time when the coins are not moving, shows that both short-term and long-term holders are increasing their supply share.
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The one-week to one month group grew from 3.16% to 5.65%, while the one- to two-year wallets have risen from 23.11% to 24.05%. This means that new investors will buy as Dogecoin prices rise and older investors will remain firmly maintained.
Together, the decline in used coins and the rise in holder supply is one clear picture: Dogecoin’s Foundation quietly strengthens under the surface.
DogeCoin Price targets a 20% increase as channel breakout approaches
Dogecoin trades within rising channels. This is a bullish pattern formed when a higher low value continues to push the price up between two parallel lines. This Doge Price Channel limit is approaching $0.28. This serves as both resistance and potential breakout levels.
A sustained move above $0.28 confirms breakouts and unlocks 20% rally to $0.32 and $0.34 (target price). However, breakouts could occur even faster if the momentum continues while Dogecoin prices remain within the channel. This means that each of the new highs can approach that safe breakout zone as the top trendlines are rising.
If the buyer maintains control, the rally could grow to $0.38 based on Fibonacci’s predictions. On the downside, $0.24 is still a key support. As long as that applies, the broader bias remains bullish. Penetration under 0.22 Fibonacci levels negates short-term ferociousness.
Dogecoin’s price action and on-chain data tell the same story. The coin is not moving. Holders have been added, and the charts are tightened. Together, if resistance ultimately gives way, they make a quiet and persuasive case for a 20% breakout.
