- DOGE ($0.13) has seen a spike in dormant tokens that are back in circulation.
- The memecoin’s price has continued its consolidation attempts.
Dogecoin[DOGE] is consolidating around the $0.40 mark following an explosive rally in early November. Recent metrics reveal heightened on-chain activity, with dormant tokens resurfacing alongside increasing transaction volumes.
While DOGE shows signs of indecision, the interplay between age-consumed spikes and price movements highlights the need to watch key support and resistance zones closely.
Dogecoin dormant tokens resurface
One notable trend is the spike in Dogecoin’s Age Consumed metric, which tracks the movement of long-held, dormant tokens. As seen in the Santiment’s Age Consumed chart, major spikes occurred in late October, mid-November, and December.
The analysis showed that the metric spiked to 1 trillion on the 16th of December, the highest since October when it exceeded 1 trillion.
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