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"Download the Little Fox Wallet app" Dogecoin's MDIA Influences Its Price Up 11%

2023 07/19

According to the company's analysis of Santiment data based on the blockchain, the Dogecoin, (DOGE) dollar investment age mean (MDIA) has been increasing in the last month.

The average age of all tokens in the MDIA blockchain is considered based on the purchase price, which means that as the token price increases in MDIA, the longer the token price stagnates. A decrease in MDIA means that the wallet address of the token becomes more active.

According to data from CoinMarketCap on July 18, DOGE was trading at $0.064. The meme coin price rose 11% as DOGE`s MDIA dropped. As of today, DOGE is down about 1.70% to 0.068 On the chart, the relative strength index (RSI) of the meme token has been rising since July 18th. In the past 4 days of DOGE, the pressure to buy has increased.

From July 18th to 20th, I also saw some important chain activities in DOGE. During this period, the number of unique addresses increased by about 15%. On the other hand, this figure has decreased by 48% in the past two days. As of today, the number of active DOGE addresses is 49,118.

At the same time, the total amount of DOGE in all transactions has increased by more than 600%.

Whales also started DOGE from July 18th to 20th because the trading volume of whales increased by 30%, exceeding $100,000. During that period, deals over $1 million rose to 98. At the time of writing, this was down 94% to 5 trades.


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