Dogecoin has shown a significant potential for a 50% surge as key on-chain metrics exhibit bullish signs. The cryptocurrency has attracted considerable interest from large investors, often referred to as whales, as it surpassed crucial resistance levels.
This development comes amid a broader recovery in the crypto market, fueled by Bitcoin's rally, humorously dubbed "Uptober," which pushed its price above $68,000. This rally has reignited buying interest across major meme coins like Dogecoin, Shiba Inu, and Pepe, all reporting substantial gains.
The positive outlook for Dogecoin is reinforced by these on-chain metrics, leading analysts to recommend holding onto DOGE amidst the prevailing bullish trend. The increase in social activity around Dogecoin also points to growing investor confidence in its potential price appreciation.
