Dogecoin to the Moon? Here's Why Experts Are Predicting a $0.2 Price

Dogecoin (DOGE) price continues to hover around the $0.09 area, but on-chain analysis suggests it could be poised for another leg up.

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Daily transactions on the Dogecoin network have surged back above 1.3 million, fueling the recent price rally.

The rapid increase in transactions has been attributed to the Dogecoin Ordinals (DRC-20) wave and organic growth in network activity.

 For DOGE price to reach $0.2, it must first break through the psychological resistance level at $0.10.

The Global In/Out of the Money (GIOM) data shows that 253,050 million current DOGE holders could sell their holdings if the price reaches $0.10.

 If DOGE price can surpass $0.10, it could trigger a significant upswing towards $0.2.

On the downside, if DOGE price dips below $0.07, the 628,230 holders that bought 41.9 billion DOGE at an average price of $0.077 could offer support.

Overall, the on-chain data suggests that the ongoing Dogecoin price rally has the potential to continue.

However, investors should be aware of the potential for profit-taking at $0.10 and selling pressure at $0.07.

Only time will tell if DOGE price can reach $0.2, but the current trends are positive