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Tony M. Tony M.
FXStreet

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 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.
tm/9/5/22
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.
 

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Bitcoin price has single-handedly crashed the entire crypto market as it tumbled below a crucial support level. As of this writing, BTC is still yet to find a stable support level and hatch a recovery plan.
Successful completion of the Merge has paved the way for Ethereum’s 18% dominance. Interestingly, Ethereum, XRP and Cardano, among other altcoins, are showing signs of weakness in their price trends.
Polkadot price is at the tail end of a lengthy seven-day drop. The sell-off worsened over the weekend amidst a sell-the-news initiative in the wake of the Ethereum Merge on Thursday.
Solana (SOL) price dips another 1% at the start of this trading week after traders threw in the towel on Sunday as the event calendar for this week made them run for the hills.
Bitcoin price has not only swept key swing lows, as noted in last week’s articles, but it has also reached its first recovery level target. While the recovery rally was as quick as it was a surprise, investors can hope for a minor retracement to get on the next leg-up.
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