After climbing 13% within just five days Dogecoin (DOGE) price dropped below $0.069 again on Monday morning. But, if the resilient long-term investors hold firm, could Dogecoin be the top memecoin to watch this week? 

Dogecoin (DOGE) price failed the clear the $0.07 resistance last week, but on-chain data suggests that the rally may not be over yet. Do the bulls have enough in the tank to trigger an early recovery this week? 

Dogecoin Long-term Fans Remain Resilient 

While prominent memecoins like PEPE and FLOKI ranked higher on top gainers’ charts last week, Dogecoin long-term holders are not yet looking to jump ship. According to on-chain data, DOGE Mean Coin Age has increased persistently for nearly a month. 

Since dropping to the recent low of 43,107 on June 7, DOGE Mean Coin Age has now risen 30% to reach 55,876 on July 3.

Mean Coin Age gauges the level of trading sentiment among long-term investors by computing the average number of days that coins in circulation have spent in their current wallet addresses. 

When it rises persistently, as seen above, it signals that investors hold their coins for much longer. If Dogecoin long-term holders continue

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Author: Ibrahim Ajibade

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