Recent on-chain metrics suggest that Dogecoin (DOGE) may be on the verge of a bullish rally, with a potential target price of $0.17. The Global In/Out of the Money indicator points to a lack of substantial selling clusters in the near future, which could facilitate a rapid price increase.
This bullish momentum is further underpinned by a significant observation from the indicator: around 73% of Dogecoin addresses are likely in profit, suggesting strong hold and support potential at current levels.
The post highlighting these insights was published on FXcrypto News, emphasizing the investment opportunity for Dogecoin as market conditions display a supportive technical backdrop.
