Dogecoin (DOGE) – Dogecoin Demand Rising! But is this Normal?

Dogecoin (DOGE) – Dogecoin Demand Rising! But is this Normal?

Join the Doge Army and get ready for a surge in Dogecoin demand! In this video, we break down the charts and analyze the on-chain activity to see how the community is reacting. While the price may not be reflecting the demand just yet, the momentum is building for a potential upward price action. Stick around to hear our thoughts on what to expect in 2024 and don’t forget to subscribe and hit that like button!

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What’s up guys welcome in Doge Army welcome back to Not Your Father’s Capital let’s get this video going we’re going to talk Dogecoin because right now we’re seeing a surge in demand I’m going to break that all down for you guys on the chart as well as look at some of the

Stuff going on on chain as well as in the overall Dogecoin climate uh see how the the basically Community is reacting to what’s going on on the charts okay so we’re going to break it all down for you guys so absolutely stick around the end of this video I’ll give you guys my

Thoughts towards the end on kind of what we’re looking for in 2024 what I’m looking for all right let’s get down into it guys and remember to subscribe down below smash that like button as well let everyone know in the chat too that you guys all hold and love that dog

By doing so by putting that dog put that symbol Down Below in the comments box get YouTube fired up as we get into the holiday spirit and if you guys have anything else to say please let them know let me know Down Below in the comments I try to

Respond to every single comment if you guys just want to community communicate or uh have any thoughts or feedback always appreciated but let’s let’s hit it all right and this is what we’re going to talk about obviously um The Surge in demand within Dogecoin but we’re not seeing that price impact okay

That seem to be kind of a tried andrue response to having all of this this acceleration that we’re seeing in the market but I’m going to share with you guys exactly what these metrics are showing okay and obviously not Financial advice so please do your own research

And du diligence with all things crypto and financial okay but we’re seeing this expansion within Dogecoin um this is where you’re seeing the network activity continue to uh increase and but why are we not having a increase in the Market within dogecoins asset value well it’s still a promising sign and it’s laying

The groundwork for a potential upward price action now that’s a that’s a thought and comment from um OE Martinez you know popular crypto analyst that you can find on X as well guys if you are not yet subscribed uh to to my actual uh xplatform uh formly Twitter uh down in

The bottom left is that handle guys make sure you subscribe there never miss a beat with when we talk crypto I like to post all my videos there as well so if you guys want to watch them on there feel free but that’s something where we’re looking into the demand within

Dogecoin okay look at the this graphic here brought to you by trading view you can see the the count of new addresses that have traded Dogecoin over the past week continue to oscillate within a narrow range now this is something where we look into these movements and it’s

Not enough that is simply what comes down you guys this is not enough to propel Dogecoin to where we need to be okay these are narrow movements but we’re seeing that momentum increase like I said guys it’s an acceleration okay these momentums these acceleration indicators are also showing

Basically the the fact that we’re seeing that price between Dogecoin at that 089 level to the 095 level basically go and oscillate back and forth fourth okay now like I said these these indicators are confirming those levels and what we look at some of the other metrics and and indicators such as

The mfi which is the money flow index um we want to look basically at a value um above 50 if it’s if it’s below 50 that’s where you’re going to have a weakening buyer buying pressure indicator in the market that sellers are gaining control and right now as we currently stand Dogecoin mfi

Is at 39.8 at the time of this recording okay but more so this is kind of where we’re having this imbalance because the RSI is above 50 okay and that’s something where it’s slightly less but yeah people are more inclined to sell Dogecoin right now then accumulate but the demand is

Rising so that’s kind of why we’re not seeing the impact on the price on the charts as we would currently like to and I think this is more so a lot of factors at hand um the lack of true Catalyst if Dogecoin could just get one utility one

Clear form of utility they are just a sleeping giant ready to break out you got to remember guys they were the number one crypto meme coin that is something where you kind of get that WWE belt you get that championship belt championship ring that is an Accolade an attribute in a

Basically you know it’s just a notch that cannot be understated and and undervalued it is something that will stick with Dogecoin for the for the course of time you know whether investors have left Dogecoin they don’t currently hold Dogecoin they don’t believe in it anymore they did and when

Dogecoin gets that one thing the The Vault M4 that one true Catalyst that’s when you’re really going to see all these metrics and everything like this technical gets thrown out the window because it’s a community that got Doge coin to be a billion top 10 crypto okay that’s what it comes down

To so we can look at these metrics to we blue in the face the RSI like I said is a little bearish the mfi is indicating a more so bearish indicator predicting a more of a sell-off trend whether it be tax harvesting towards the end of 2023 I

Don’t know but everybody has their reason for selling and everybody has a reason for holding and Dogecoin is one of those cryptos where I think guys if you’re in it you’re in it and uh I think from the retail side of the game there’s not a lot of people selling Dogecoin out

There in the market so we’re going to continue to uh cover Dogecoin here on the channel as always let me know Down Below in the comments what do you guys think do you think Dogecoin is going to break out firmly get P past that 10 cents level can’t really break through

That resistance guys but it’s sitting there right there right in front of us as we currently stand trading at that 093 level when I’m recording at this present time so all good stuff I hope you guys are all doing well remember to subscribe on your way out but I want to

Thank you guys once more enjoy the holiday please like I said guys drop that dog down below in the comments box and we’ll see you guys all in the next video thanks Everyone