Cryptocurrency analyst and trader Ali Martinez, known on the X platform as simply Ali, has taken to his social media account to share that the largest meme cryptocurrency by market cap value, Dogecoin, is likely preparing to break out soon.

Dogecoin (DOGE), the memecoin known for its Shiba Inu mascot, has witnessed a significant increase in network activity. Over the past week, transactions surpassed 1.93 million, according to data from IntoTheBlock, positioning DOGE above other popular tokens such as Shiba Inu (SHIB), Floki (FLOKI), and Pepe (PEPE).

Dogecoin could be gearing up for another major surge in price as the meme coin's chart shows the formation of a major pattern. The Golden Cross pattern is a major bullish formation on a chart that usually precedes a notable rally for digital assets such as DOGE.

Increasing activity for DOGE: over 1.93 million weekly transactions

Check out which meme coins witnessed a double-digit price rally in the last 24 hours.

Meme coin leaders Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) have rallied 4.5% and 8% after the announcement of a 50-basis points rate cut in interest rates. What Happened: Interest rate cuts have prompted crypto traders to predict bullish momentum for the cryptocurrency markets.

A spike in transactions suggests a potential revival of user engagement and could indicate growing adoption or increased trading activity - leading to higher prices.

PEPE price reclaimed the $0.00008 level on Sept 19, up 7% in 24-hours, amid rising market liquidity triggered by the US Fed Rate Cut announced on Wednesday.

The crypto market update for September 19, 2024 Asian trading hours sees Bitcoin break above $62,000. BTC price rose as traders cheered the US Federal Reserve's 0.5% interest rate cut – the first one since 2020. Most altcoins also traded higher, with Ethereum gaining to above $2,450.

Dogecoin (DOGE) price has been facing a prolonged downtrend for over five months, with the meme coin struggling to break free. Recent price action suggests that DOGE's anticipated breakout might not materialize anytime soon.

The cryptocurrency markets continued their recent uptick, with major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), Dogecoin (DOGE), and Toncoin (TON), in the green.

Billy Markus, known on the X platform as Shibetoshi Nakamoto, who created the iconic meme cryptocurrency Dogecoin in tandem with Jackson Palmer in 2013, has shared his take on the way Bitcoin price reacted to the big interest rate loosening made by the Fed Reserve.

Amid the ongoing altcoin recovery triggered by the recent Bitcoin (BTC) price pump above $62k for the first time in September following the first Fed's rate cut on Wednesday, leading meme coin, Dogecoin (DOGE) has signaled a potential bull up run in the near term.

There has been a lot of activity on-chain for Dogecoin (DOGE) recently, which suggests that people invested in cryptocurrencies are feeling more optimistic toward the popular dog-themed meme coin.

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Dogecoin remained under bearish pressure, with a potential retest of the immediate support level if the momentum continues.

Dogecoin started a fresh increase from the $0.0985 support against the US Dollar. DOGE could gain pace if it clears the $0.1085 resistance.

Dogecoin is testing a crucial price level after a turbulent week that saw a 22% surge from local lows and a sharp 9% drop to its current price. The meme coin has experienced significant volatility, with choppy price action causing uncertainty among investors.

The lackluster Dogecoin price action could change very soon as on-chain data suggests increased activity behind the scenes. Particularly, on-chain analytics company IntoTheBlock revealed a surge in daily transactions on the Dogecoin blockchain, pushing the count to its highest point since July.

Dogecoin has processed 1.93 million transactions over the past week, the highest level since early July.

Cryptocurrency markets are trading relatively flat after the Federal Reserve announced a 50-basis-point interest rate cut, making risk assets more attractive. Cryptocurrency Price Gains +/- Bitcoin (CRYPTO: BTC) $60,376.37 -0.4% Ethereum (CRYPTO: ETH) $2,322.72 -1.3% Solana (CRYPTO: SOL) $130.3 -1.7% Dogecoin (CRYPTO: DOGE) $0.101 -0.3% Shiba Inu (CRYPTO: SHIB) $0.00001334 -0.04% Notable Statistics: IntoTheBlock data shows an 8% decline in large transaction volume and a 4% increase in daily active addresses.

Cryptocurrency markets are trading relatively flat after the Federal Reserve announced a 50 basis points cut, making risk assets more attractive. Cryptocurrency Price Gains +/- Bitcoin (CRYPTO: BTC) $60,376.37 -0.4% Ethereum (CRYPTO: ETH) $2,322.72 -1.3% Solana (CRYPTO: SOL) $130.3 -1.7% Dogecoin (CRYPTO: DOGE) $0.101 -0.3% Shiba Inu (CRYPTO: SHIB) $0.00001334 -0.04% Notable Statistics: IntoTheBlock data shows an 8% decline in large transaction volume and a 4% increase in daily active addresses.

Amid an underwhelming price action, canine-themed meme coin Dogecoin (DOGE) is now seeing a rise in one of its key metrics.

On-chain data shows the Dogecoin miners have been accumulating recently. Here's what this could mean for the memecoin, based on past pattern.

Bitcoin is at a critical juncture, and analysts are divided about the potential impact of interest rate cuts on the market's direction.

Dogecoin (DOGE) has shown a promising bullish signal as key metrics skyrocket. According to IntoTheBlock, last week, Dogecoin processed an impressive 1.93 million transactions, marking the highest weekly transaction count since early July.

Pseudonymous crypto trader Master Kenobi believes that Dogecoin (CRYPTO: DOGE) will continue to outperform Bitcoin (CRYPTO: BTC) in the current market cycle. What Happened: In a detailed social media post, Kenobi noted that despite Dogecoin's initial creation as a joke, it has managed to gain significant attention and popularity in the crypto community.

A recent analysis from a well-known Dogecoin (DOGE) enthusiast and technical analyst suggests that DOGE could be on the verge of a stunning price, as he pointed out that the meme coin is just a few weeks away from completing its first "golden cross" in over four years - a technical indicator often associated with upward momentum.

Opinions matter in the broader digital currency ecosystem. Dogecoin (DOGE) cofounder Billy Markus shared a strong opinion about crypto conferences on X.

Many industry leaders have responded excitedly to the latest post of Elon Musk revealing the advancement made by Neuralink's Blindsight project. Among those who have taken to social media to convey their excitement are cryptocurrency leaders like Dogecoin co-creator Billy Markus.

The Dogecoin price recover came as a welcome sight to investors after the meme coin struggled around $0.09 for a while. Naturally, the move in the price has prompted movement among Dogecoin investors and the whales are not left out of this.

Dogecoin (DOGE) price may have gotten the much-needed boost to kick off a rally, as network transactions have been increasing significantly.

Dogecoin faces selling pressure and bearish indicators, with potential resistance ahead.

Amid the sluggish price performance, Dogecoin is now seeing a rise in one of its major metrics. Recently, data from the market intelligence platform IntoTheBlock revealed that the asset has recently exhibited a surge in transaction activity.

Billy Markus, who created the original meme cryptocurrency Dogecoin in collaboration with Jackson Palmer in 2013, and who is known on the X platform (formerly Twitter) as Shibetoshi Nakamoto has posted his enthusiastic take on Elon Musk's recent tweet.

The meme-inspired cryptocurrency Dogecoin ($DOGE), which has seen its value dop by around 0.6% over the last 30-day period, has a significant resistance at the $0.11 mark, with around 31 billion DOGE tokens holding at that level.

How will the current market dynamics and Musk's stance impact the future value of Dogecoin?

The 50-day EMA crossing below the 200-day EMA is signaling a possible death cross, according to Bitcoin's technical indicators. The current chart indicates that the difference between the two moving averages has been closing, and this crucial cross may occur in the coming days.

Cryptocurrency markets are trading higher ahead of Wednesday's interest rate decision. Cryptocurrency Price Gains +/- Bitcoin (CRYPTO: BTC) $60,346.5 +3.9% Ethereum (CRYPTO: ETH) $2,351.85 +2.8% Solana (CRYPTO: SOL) $132.5 +1.1% Dogecoin (CRYPTO: DOGE) $0.1013 +1.7% Shiba Inu (CRYPTO: SHIB) $0.00001335 +1.7% Notable Statistics: IntoTheBlock data shows a 55% increase in Bitcoin's large transaction volume and a 6.4% spike in daily active addresses.

On Tuesday, the cryptocurrency market experienced a bullish rebound driven by speculation of a potential Fed rate cut. Bitcoin led the charge with a surge of over 4%, reaching $65,500, which ignited a recovery trend in various altcoins.

The Dogecoin price is probing a major resistance area, with the current technical set up hinting towards a major price breakout.

Cryptocurrency markets are bracing for the Federal Reserve's decision on Wednesday whether to cut interest rates by 25 or 50 basis points. What Happened: Jim Bianco of Bianco Research in an interview with Natalie Brunell emphasized the importance of understanding where the “neutral” funds rate is — the rate that neither stimulates nor restricts the economy.

On-chain data shows the whales of these altcoins have been shifting their supply from exchanges to cold wallets recently, a sign that may be bullish for their prices. Whales Of These Altcoins Have Been Moving Into Self-Custody Recently In a new post on X, the on-chain analytics firm Santiment has discussed the trend in the Top Exchange/Non-Exchange Wallet Holdings for three altcoins: Polygon (MATIC), Injective (INJ), and Render (RENDER).

One analyst believes DOGE's potential rally will trigger the next altcoin season.

The crypto market experienced a bullish turnaround in September as investors anticipated a 0.25% rate cut by the US Federal Reserve. Amid this development, whales demonstrated their long-term commitment to cryptocurrencies like MATIC (recently migrated to POL), INJ, and Render, with a significant portion of their holdings being moved from exchanges to cold wallets.

Dogecoin's (CRYPTO: DOGE) flat performance over the past 30 days despite repeated shoutouts from Elon Musk has left traders debating what is next for the apex meme coin. What Happened: Crypto chart analyst Ali Martinez noted that in case traders are expecting a breakout, they should watch out for the key resistance level at $0.11, where 23,400 addresses hold around 31 billion DOGE.

The fall has not lasted long, and again, most of the coins are in the green zone, according to CoinMarketCap.

Holders of Dogecoin are keeping a careful eye on the price action as the meme coin gets closer to a crucial level that might lead to a much-needed breakout. The key resistance level of $0.11, where about 23,400 addresses are holding about 31 billion DOGE, is getting closer, according to on-chain data.