Huge DOGE Price Change Almost Certain? Historical Data Proves This

Anvesh Reddy
July 23, 2022
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
doge dogecoin

In what could be a delightful pattern to notice for Dogecoin (DOGE) investors, historical data points to big price change. If we analyze an important indicator historically, Bitcoin showed a similar price trend on four occasions. Over the past one month, DOGE price rise was hardly seen although there were some fluctuations on regular intervals.

Advertisement
Advertisement

Sudden Drop In DOGE Mean Dollar Invested Age

According to Santiment Insights, there was huge drop in the token’s Mean Dollar Invested Age. In the space of just three days (July 18 to 21), average investments in DOGE went up from 264 days to just 207. This clearly indicates the possibility of a huge price change in near future. As of writing, DOGE price stands at $0.06659, down 2.26% in the last 24 hours, according to CoinMarketCap. On a weekly basis, the token is up by around 3.00%.

Drop In DOGE's Mean Dollar Invested Age
Drop in DOGE’s mean dollar invested age in the space of just three days.

More importantly, it is highly possible that more drop in the mean dollar invested age is still yet to come. This makes DOGE a favorite to lookout for in the crypto trading space.

“Dogecoin looks like a good asset to keep an eye on, with its MDIA going all the way back to May levels in just a blink.”

Advertisement
Advertisement

What Is Mean Dollar Invested Age And How It Could Lead To DOGE Price Rise?

The mean dollar invested age is defined as the average age of all coins weighted by the purchase price. Simply put, the indicator is the average age of the dollars that are invested in any token, in this case DOGE. If an asset’s mean dollar invested age starts to fall, it could mean that a price rise is highly likely in near future.

Historically, Bitcoin’s mean dollar invested age took a dip four times. On each of there occasions, a major price rise was seen afterwards, according to data from Santiment. This could prove to be a good example to show major price change followed by a change in the mean dollar invested age.

Advertisement
coingape google news coingape google news
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at [email protected] or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.