Dogecoin Supply Squeeze Signals Potential 50% Price Surge

In Brief:

Dogecoin's stock-to-flow ratio spiked to an all-time high of 69.25, indicating a potential supply squeeze and a possible 50% price increase.

Active and new addresses on Dogecoin's network have risen, suggesting increased adoption and a bullish trend.

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Dogecoin Supply Squeeze Signals Potential 50% Price Surge

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Between August 18 and 19, Dogecoin (DOGE) experienced a significant increase in its stock-to-flow ratio, reaching an all-time high of 69.25.

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This spike suggests a potential supply squeeze, indicating that DOGE may be on the verge of a major price rally.

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Increased Activity on Dogecoin Network

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The rise in active and new addresses on Dogecoin's network further supports the bullish outlook.

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Active addresses, reflecting users completing transactions, indicate increased blockchain usage, while new addresses suggest growing adoption.

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The Global In/Out of Money (GIOM) indicator shows over 1 million addresses purchased DOGE at a maximum price of $0.098, highlighting key support levels.

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As demand rises during this scarcity period, DOGE could exit its bearish trend and see significant gains.

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