- The Dogecoin price fell to $ 0.24 on Friday, with buzz gains around the FNB DOGE was subjected to 5%.
- The world sector of the same has faced a negative feeling this week due to the controversy surrounding the bond of the president of Argentina with a scam token.
- Total health metric shows that 160,000 new users’ portfolios have been created on the Dogecoin network since January 20.
Dogecoin Price has won 8% in the last 3 days to reach $ 0.26 on Friday, powered by the buzz around ETF DOGE. The data on the chain show that new users continue to transform themselves into the Dogecoin network because the world sector of the same is faced with a negative feeling this week From the controversy surrounding the bond of the president of Argentina Milei to a jet of the same scam.
Dogecoin drops to $ 0.24 while the controversy of the same balance nullifies the media threshing of Doge Etf
Friday, Dogecoin (DOGE) extended its two -day losses, down 3% to 0.24 $ 0.24 in the middle of increased speculation around the potential launch of ETF DOGE.
The momentum initially came from the recognition of the Securities and Exchange Commission (SEC) of the Doge and Graycale Dogement on February 14, followed by similar Bitwise deposits this week.
However, despite the excitement, DOGE failed to go beyond the resistance to $ 0.26 and fell to $ 0.24 at the time of the editorial staff.
Dogecoin price AnalysisFebruary 21, 2025 | Source: tradingView
Comparisons with Litecoin (LTC) and Ripple (XRP) – Two other active ingredients with ETF applications waiting – Highlight Doge’s de any price reaction.
On Thursday, the LTC reached a 30 -day summit of $ 140 while XRP recovered the level of $ 2.70. On the other hand, the momentum of Doge was delayed by wider opposite winds of the same market, including the scandal of tokens balance involving Argentinian president Javier Milei.
The lowering feeling swept the same sector this week as news Surfaces the alleged ties of Milei with Balance, a fraudulent same project that saw its token price collapse.
The controversy has reduced the appetite of investors for speculative assets, compensating for the positive feeling surrounding the perspectives of the FNB of Doge.
This slowdown at the sector can explain why the price of Dadecoin has felt in the last two days, even if the institutional interest in the cryptographic ETF continues to grow.
160,000 new Dogecoin portfolios created within 30 days of establishing Trump Doge
Elon Musk’s influence on the trajectory of the Dogecoin market is well documented, but its impact has now entered a new phase.
Shortly after US President Donald Trump signed a bill officially creating the Ministry of Government Effectiveness (DOGE) on January 20, data on the channel suggest an increase in new users entering the ecosystem of DOGECOIN.
Dogecoin Total Bolders vs Doge Price | Source: Santiment
According to the total metric of the santly holder, the number of unique portfolios holding Doge increased by 160,000 in the last 30 days.
On January 20, the total number of portfolios on the Blockchain Dogecoin network was 7.02 million. From this week, this figure increased to 7.18 million, reflecting an increasing adoption in the aftermath of the official appointment of Musk to direct the Oversight Office Doge.
Such a spectacular increase in new users is intrinsically optimistic for the price of Dogecoin, because the wider user base improves the decentralization of the network, which makes the ecosystem more resilient to manipulation and volatility.
In addition, an increase in portfolios reports an increase in DOGE demand, which could lead to increased transactional activity on the network. If this trend continues, the expansion of the Dogecoin user base could result in sustained purchase pressure.
Dogecoin price forecasts: Doge needs a stronger momentum to break $ 0.30
Dogecoin price forecasts remain carefully optimistic, but the resistance of $ 0.30 could prove too steep for the current momentum.
The VWAP at $ 0.25181 reports moderate purchase interest, but with price trading below this level, the increased conviction seems low.
THE Bollinger groups Indicate contractual volatility, with the band greater than $ 0.27840 and a support less than $ 0.24, highlighting a tightening price range.
Dogecoin price forecast
A rebounded push this week saw Doge Climb 5.2% in three days. The directional movement index (DMI) shows the -DI (33.58) which masters the + DI (13.50), indicating a lower control, while the ADX (25.07) suggests that the trend remains strong .
Unless buyers resume domination, DOGE could find it difficult to eliminate VWAP resistance from $ 0.26, not to mention the psychological level of $ 0.30.
For the upward continuation, Doge must pass the Bollinger upper band at $ 0.28. Leaving, non-compliance with $ 0.24 could expose Doge to deeper losses to $ 0.22.