Dogecoin is hovering near $0.15, but a cluster of technical and on-chain indicators shared on X suggests the market structure is far healthier than during the last bear phase, prompting fresh upside calls from analysts.<\/p>\n
Trader Cryptollica posted a long-term monthly DOGE chart with the Mayer Multiple and a clear message: \u201cDOGE Target > $1.30.\u201d The Mayer Multiple, using 200- and 50-period moving averages with a 2.4 threshold, sits at 0.66005. Visually, that is far below the spikes above 5 that accompanied the 2017 and 2021 blow-off tops, indicating that Dogecoin is not yet in the overheated conditions historically associated with major market peaks.<\/p>\n
Cryptollica also highlighted an Alphractal chart titled \u201cDogecoin: Number of Days Spent at a Loss.\u201d The series overlays DOGE\u2019s price with a multicolour histogram of how long coins have been held in unrealised loss.<\/p>\n
Earlier cycle lows around 2014\u20132015 and the post-2021 unwind show extended peaks above roughly 1,200\u20131,500 days at a loss. In the latest segment, that metric has compressed back toward the lower end of the scale, resembling the early reset phases that preceded previous advances, and signalling that the proportion of long-suffering holders has markedly declined.<\/p>\n
On the shorter-term on-chain side, Ali Martinez (@ali_charts<\/a>) pointed to a sharp rebound in network activity. \u201cDogecoin just saw 71,589 active addresses. The biggest spike since September,\u201d he wrote, sharing Glassnode data.<\/p>\n The chart \u201cDOGE: Number of Active Addresses\u201d plots daily active addresses as yellow bars against the DOGE price in black. From early November, activity ranged around 45,000\u201347,500 addresses while price drifted lower from about $0.17 to $0.14. On December 3, active addresses jumped to 71,589 as price recovered to $0.15181709, signalling a broadening of participation rather than a purely price-driven move.<\/p>\n Ali also drew attention to whale behaviour. Posting a Santiment chart of balances held by addresses with between 1,000,000 and 100,000,000 DOGE, he noted: \u201c480 million Dogecoin bought by whales in 48 hours!\u201d<\/p>\n The grey area representing holdings in this band trends down from around 35.6 billion DOGE in mid-October to below 28 billion by late November while price falls from above $0.18 to about $0.135, indicating sustained distribution. In the final days of the chart, holdings rose again to roughly 28.45 billion as price rebounded from $0.14 to $0.15, confirming a renewed net accumulation phase<\/a> among large holders.<\/p>\n A third chart from Ali, \u201cDOGE: Cost Basis Distribution Heatmap,\u201d defines the next major technical hurdle<\/a>. \u201c$0.20 is the key resistance for Dogecoin. That\u2019s where 11.72 billion $DOGE were accumulated,\u201d he wrote.<\/p>\n