Dogecoin grew by 163% in November

The Dogecoin cryptocurrency DOGE $0.14 Department Of Government Efficiency 4.89% Market capitalization $0.14 billion VOL. 24 hours $0.67 billion continues to show impressive stability after its recent explosive growth. It led to a 163% price increase in November. Despite some minor fluctuations, the bullish momentum of the meme coin remains unchanged.

It is reported that active Dogecoin addresses have reached a record, exceeding 1.33 million daily participants. This surge indicates an increased demand for the network, which is a bullish signal for the cryptocurrency.

An increase in participation often correlates with a rise in price, as high activity demonstrates strong investor interest and widespread acceptance of DOGE.

This trend indicates that Dogecoin can capitalize on its current momentum. Investor support and general market signals are likely to put further pressure on the price of the meme coin.

For example, the Divergence DAA indicator for Dogecoin signals a strong buy signal, further strengthening the positive outlook for Dogecoin.

This indicator emphasizes the harmony between rising prices and increasing participation, both of which are signs of healthy growth. With network activity coinciding with price movements, DOGE is likely poised for further gains.

Dogecoin is currently holding above the $ 0.36 support level. To maintain its rally, DOGE needs to break through and consolidate at the $ 0.45 support level.

Reaching this milestone could pave the way for further upside, potentially pushing the price higher.

However, a loss of the $ 0.36 support level could lead to a correction. In this case, DOGE could drop to $ 0.32 or even $ 0.28. Any decline below $ 0.28 will cancel the bullish scenario, indicating that further price declines are possible.

The bullish momentum remains supported by growing market demand and strong investor sentiment. If these factors persist, Dogecoin could continue to accumulate, which will help its price rise to new heights.