- Dogecoin price shows the circulation of tokens back near all-time highs.
- DOGE price shows a persistent uptick in daily active wallets.
- Invalidation of the bearish thesis remains a breach above $0.118.
Dogecoin prices could become very volatile in the days to come. As sideways price action persists during the first trading week of September, On-chain metrics show high-cap players are returning to the market.
Dogecoin price planning a sell-off?
Dogecoin price currently auctions at $0.06 as the bulls and bears are wrestling within a newfound congestive zone just below the swing low established on July 26. Traders witnessing the mundane price action may be stifled as to where the notorious meme coin is headed next.
A few of Santiment’s On-chain analytical tools provide insight into what is going on underneath the Doge’s hood. For one, the 365 Day Circulating supply indicator is back near all-time highs, currently 93 billion tokens. Since Dogecoin’s inception, DOGE has witnessed significant short-term liquidations each time the indicator went above 90 billion.
Sentiments’ Price=365-Day Circulating Supply and Daily Active Addresses Indicators
Additionally, there is a persistent uptick in active addresses. The indicator also corroborates the idea that smart money may be planning a big move.
When combining these factors, the Dogecoin price could endure a painful September. Being an early buyer comes at high risk. Last month’s bearish trade setup targeting the June 18 swing low is still in play, and the invalidation level remains at $0.012.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
Recommended Content
Editors’ Picks

HYPE drops 6% amid Eyenovia plans to establish Hyperliquid treasury
Hyperliquid (HYPE) sustained a 6% decline on Tuesday despite Nasdaq-listed Eyenovia's (EYEN) announcement that it entered a securities purchase agreement to offer up to $50 million of its shares to establish a HYPE treasury.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH, and XRP dips as US involvement in Israel-Iran conflict looms
Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) prices hovered around key levels on Wednesday after falling the previous day. The crypto market turned risk-averse amid growing concerns that the United States could intervene in the escalating conflict between Israel and Iran.

Crypto market tumbles as US missile strikes over Iran: SPX, VIRTUAL, and WIF lead the losses
The broader cryptocurrency market is trading in the red as the US steps into the Israel-Iran conflict. Bitcoin (BTC) trades below $105,000 at press time, while meme coins such as SPX6900 (SPX) and Dogwifhat (WIF) lead the market pullback alongside Virtuals Protocol (VIRTUAL).

Shorts weigh on Ethereum amid whale accumulation and strong ETH ETF inflows, experts reveal why
Ethereum (ETH) is down 2% on Wednesday amid a simultaneous growth in accumulation and short positioning across ETH futures. The divergence follows investors leveraging a delta-neutral play to scoop yield.

Bitcoin: BTC could slump to $100K amid Trump-Musk tussle
Bitcoin (BTC) tumbled to a low of $101,095 on Friday amid volatility in the market. The effect of the tussle between United States (US) President Donald Trump and Tesla Chief Elon Musk negatively influenced the NASDAQ and Tesla's stock price on Thursday, although both are recovering on Friday.