{"id":636687,"date":"2024-08-20T17:00:12","date_gmt":"2024-08-20T17:00:12","guid":{"rendered":"https:\/\/www.shenyangcang.com\/?p=636687"},"modified":"2024-08-20T18:46:37","modified_gmt":"2024-08-20T18:46:37","slug":"dogecoin-faces-supply-squeeze-what-this-means-for-price","status":"publish","type":"post","link":"https:\/\/www.shenyangcang.com\/dogecoin-2\/dogecoin-faces-supply-squeeze-what-this-means-for-price\/","title":{"rendered":"Dogecoin Faces Supply Squeeze: What This Means For Price"},"content":{"rendered":"

A supply squeeze may be on the horizon for the foremost meme coin, <\/span>Dogecoin (DOGE)<\/span><\/a>. This follows a massive surge in <\/span>DOGE\u2019s stock-to-flow ratio<\/span><\/a>, which is expected to impact its price positively.\u00a0<\/span><\/p>\n

Related Reading: Is Dogecoin (DOGE) Headed For A 40% Slide? This Analyst Thinks So<\/a><\/div>\n

How Supply Squeeze Could Lead To Price Surge For Dogecoin<\/b><\/h2>\n

Data<\/span><\/a> from the <\/span>on-chain analytics platform Santiment<\/span><\/a> shows that Dogecoin faces a supply squeeze, with the meme coin\u2019s stock-to-flow ratio rising. Between August 18 and 19, this stock-to-flow ratio surged to an all-time high (ATH) of 69.25. This metric measures a commodity’s scarcity and indicates a massive demand for Dogecoin.<\/span><\/p>\n

\"dogecoin
Source: Santiment<\/figcaption><\/figure>\n

This development could lead to a supply squeeze for Dogecoin as the demand for the meme coin continues to <\/span>outpace its supply<\/span><\/a>. Such a supply squeeze ultimately drives up prices, meaning that a significant price rally is currently on the cards for Dogecoin. Other on-chain metrics confirm that demand for Dogecoin is rising and that a price surge could happen anytime soon.\u00a0<\/span><\/p>\n

Data<\/span><\/a> from the <\/span>market intelligence platform IntoTheBlock<\/span><\/a> shows that Dogecoin\u2019s large transactions have surged these past few days and hit a 7-day high of 7.37 billion DOGE on August 19. This indicates increased whale activity and suggests that these investors are heavily accumulating Dogecoin ahead of its next leg up, which looks imminent.\u00a0<\/span><\/p>\n

\"dogecoin
Source: IntoTheBlock<\/figcaption><\/figure>\n

Furthermore, this shift to accumulation among <\/span>Dogecoin whales<\/span><\/a> is also evident in the large holders\u2019 netflow, which has spiked by over 3,200% in the last seven days. During this period, this category of investors has recorded more inflows than outflows, indicating that they are adding to their positions and moving them off exchanges.\u00a0<\/span><\/p>\n

\"dogecoin
Source: IntoTheBlock<\/figcaption><\/figure>\n

This massive demand for DOGE isn\u2019t only among the whales, as the meme coin\u2019s trading volume over the last 24 hours suggests that retail investors are also accumulating the foremost meme coin. <\/span>Data<\/span><\/a> from CoinMarketCap shows that Dogecoin\u2019s transaction volume has surged by over 51%, with $625.3 million traded during this period.\u00a0<\/span><\/p>\n

What To Expect From Dogecoin\u2019s Price<\/b><\/h2>\n

Crypto analyst Javon Marks<\/span><\/a> has provided insights into how high <\/span>Dogecoin<\/span><\/a> could rise on its next leg up. The analyst remarked that the meme coin could enjoy a 513% rally to reach the $0.6533 price target. Interestingly, the analyst added that this price surge could happen at \u201chigh speeds,\u201d indicating that it could happen faster than some might imagine.\u00a0<\/span><\/p>\n

\"dogecoin
Source: DOGEUSDT on Tradingview<\/figcaption><\/figure>\n

This bullish prediction followed his analysis of <\/span>Dogecoin\u2019s relative strength index (RSI)<\/span><\/a>, which he noted is nearing a breakout point and diverging with prices. With such bullish signals and prices still broken, Marks is confident that a \u201cmajor bull move\u201d is underway, which would send <\/span>Dogecoin<\/span><\/a> to this price target.\u00a0<\/span><\/p>\n

Related Reading: Litecoin And Dogecoin Whales Move Huge Amounts Amid Whale Activities In The Market<\/a><\/div>\n

At the time of writing, Dogecoin is trading at around $0.1052, up over 5% in the last 24 hours, according to <\/span>data<\/span><\/a> from CoinMarketCap.\u00a0<\/span><\/p>\n

Cover image from Dall-E, chart from Tradingview<\/p>\n","protected":false},"excerpt":{"rendered":"

A supply squeeze may be on the horizon for the foremost meme coin, Dogecoin (DOGE). This follows a massive surge in DOGE\u2019s stock-to-flow ratio, which is expected to impact its price positively.\u00a0 Related Reading: Is Dogecoin (DOGE) Headed For A 40% Slide? This Analyst Thinks So How Supply Squeeze Could Lead To Price Surge For Dogecoin Data from the on-chain analytics platform Santiment shows that Dogecoin faces a supply squeeze, with the meme coin\u2019s stock-to-flow ratio rising. Between August 18 and 19, this stock-to-flow ratio surged to an all-time high (ATH) of 69.25. This metric measures a commodity’s scarcity and indicates a massive demand for Dogecoin. This development could lead to a supply squeeze for Dogecoin as the demand for the meme coin continues to outpace its supply. Such a supply squeeze ultimately drives up prices, meaning that a significant price rally is currently on the cards for Dogecoin. Other on-chain metrics confirm that demand for Dogecoin is rising and that a price surge could happen anytime soon.\u00a0 Data from the market intelligence platform IntoTheBlock shows that Dogecoin\u2019s large transactions have surged these past few days and hit a 7-day high of 7.37 billion DOGE on August 19. This indicates increased whale activity and suggests that these investors are heavily accumulating Dogecoin ahead of its next leg up, which looks imminent.\u00a0 Furthermore, this shift to accumulation among Dogecoin whales is also evident in the large holders\u2019 netflow, which has spiked by over 3,200% in the last seven days. During this period, this category of investors has recorded more inflows than outflows, indicating that they are adding to their positions and moving them off exchanges.\u00a0 This massive demand for DOGE isn\u2019t only among the whales, as the meme coin\u2019s trading volume over the last 24 hours suggests that retail investors are also accumulating the foremost meme coin. Data from CoinMarketCap shows that Dogecoin\u2019s transaction volume has surged by over 51%, with $625.3 million traded during this period.\u00a0 What To Expect From Dogecoin\u2019s Price Crypto analyst Javon Marks has provided insights into how high Dogecoin could rise on its next leg up. The analyst remarked that the meme coin could enjoy a 513% rally to reach the $0.6533 price target. Interestingly, the analyst added that this price surge could happen at \u201chigh speeds,\u201d indicating that it could happen faster than some might imagine.\u00a0 This bullish prediction followed his analysis of Dogecoin\u2019s relative strength index (RSI), which he noted is nearing a breakout point and diverging with prices. With such bullish signals and prices still broken, Marks is confident that a \u201cmajor bull move\u201d is underway, which would send Dogecoin to this price target.\u00a0 Related Reading: Litecoin And Dogecoin Whales Move Huge Amounts Amid Whale Activities In The Market At the time of writing, Dogecoin is trading at around $0.1052, up over 5% in the last 24 hours, according to data from CoinMarketCap.\u00a0 Cover image from Dall-E, chart from Tradingview<\/p>\n","protected":false},"author":594,"featured_media":631782,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[86147],"tags":[1785,7,79600],"class_list":["post-636687","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin-2","tag-doge","tag-dogecoin","tag-dogeusdt"],"acf":[],"yoast_head":"\nDogecoin Faces Supply Squeeze: What 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