Dogecoin Price Prediction As Whales Scoop Over $300 Million- Is A Bull Run Ahead?

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Dogecoin Price Surges Above $0.20 as Whales Scoop Over $300 Million

Highlights

  • Whale purchases of Dogecoin suggest significant price increase potential.
  • Dogecoin price nearing breakout above $0.22, targeting next resistance at $0.25.
  • Technical indicators show neutral to bullish market momentum.

Dogecoin price has surged past $0.20, showing signs of a bullish recovery amid a slight market rebound. Currently, DOGE is trading within a symmetrical triangle pattern, which suggests a potential breakout above resistance levels. If the price moves above this key resistance, it could trigger a significant rally from its current position. 

In the broader cryptocurrency market, Bitcoin (BTC) is holding steady above $114,000, while Ethereum (ETH) remains above $4,200, reflecting overall positive momentum across major assets.

Whale Activity Boosts Dogecoin Price Surge

In the last 24 hours, whales have made a significant move in the Dogecoin price market, purchasing over 327 million coins. This surge in large transactions indicates growing interest from major investors, potentially influencing the coin’s price.

The massive buying activity has already triggered a noticeable rise in DOGE’s value. Market analysts are closely watching these developments, speculating that this trend could lead to further price gains in the near future.

DOGE Showing Signs of Potential Breakout

Dogecoin price is gearing up for a possible major move, according to crypto analysts. After enduring a prolonged consolidation period and a few pullbacks, the cryptocurrency is now showing strength around the $0.20 mark.

The recent price action suggests that DOGE may soon break through its current range. If the momentum continues, experts predict the digital asset could aim for the $0.26+ level in the next rally.

Is Dogecoin Price Ready to Surge Again?

As of the reporting time, DOGE price stands at $0.20261, showing a slight decline of 0.37%. The chart suggests that Dogecoin’s price has faced some resistance around the $0.22 mark but remains within a range between $0.18 and $0.22.

The Relative Strength Index (RSI) is currently at 58, indicating that DOGE is neither overbought nor oversold, suggesting the market sentiment is neutral at this point. 

Dogecoin Price Surges Above $0.20 as Whales Scoop Over $300 Million
Source: DOGE/USDT 4-hour chart: Tradingview

The Moving Average Convergence Divergence (MACD) shows a positive trend, with the MACD line above the signal line, signaling that short-term bullish momentum is still intact. The histogram indicates a continuation of upward momentum, though not strong enough to suggest a significant rally.

A break above $0.22 could push the Dogecoin price prediction toward the next resistance at $0.25. On the flip side, a dip below $0.18 might signal further downside potential. 

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

DOGE

Dogecoin

$0.20546137 1.76% (24h)

24 Hours volume

$3.06B

Market Cap

$30.64B

Max Supply

NA

Buy $DOGE with MEXC
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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.