Dogecoin's 14% 'Post-Halving' Rally Continues: Here's When The Real Breakout Is Coming

Dogecoin's (CRYPTO: DOGE ) continued rally, backed by improving key metrics, prompted traders to predict a full breakout in the upcoming weeks .

What Happened: Crypto trader Rickus analyzed Dogecoin's chart, noting that the trend angle is steeper than in earlier cycles. He believes Dogecoin will break out five to six weeks form now and retest its resistance afterwards, as it has done in previous cycles.

Another crypto trader expects an upcoming “post-halving” rally:

Also Read: Dogecoin Could Reach A New All-Time High ‘By The End Of August’...If This Historical Pattern Holds

Why It Matters: IntoTheBlock data shows large transaction volume increasing by 37.5% and daily active addresses growing by 2.3%. Also, transactions greater than $100,000 increased from 225 transactions on July 15 to 346 transactions on July 16.

Addresses holding Dogecoin has surged to 90 million, reflecting rising interest in Dogecoin and its adoption among traders. This also includes wallet addresses that have ever held DOGE tokens and still retain the meme coin.

Dogecoin is up 14% over the past seven days, trading around $0.125.

What’s Next : The influence of meme coins and Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Read Next:

• Dogecoin, Shiba Inu, Pepe Will Still Have Supercycle But ‘2021 May Never Happen Again,’ Muses Trader

Image: Shutterstock

This article Dogecoin's 14% 'Post-Halving' Rally Continues: Here's When The Real Breakout Is Coming originally appeared on Benzinga.com

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