Dogecoin (DOGE), the largest and most popular meme coin by market capitalization, is showing signs of reversing its recent price decline. Over the past few days, DOGE has experienced significant declines, but recent consolidation, continued accumulation by whales, and shifts in market sentiment may be fueling potential upward momentum.
Can Dogecoin (DOGE) break through $0.36? Key levels to focus on
Amid continued market uncertainty and decline, DOGE is forming a descending triangle pattern on the 4-hour time frame and is poised for a breakout.
DOGE price prediction
According to expert technical analysis, if Memecoin breaks this pattern and closes a candlestick above $0.327 in the same time frame, it is likely to surge 11% and reach $0.36 in the near future.
However, this speculation is based on a short term and could appear within a few days.
On the daily time frame, DOGE appears to be consolidating within a narrow range below the key support level at $0.36. Based on recent price trends, if DOGE breaks out of this narrow zone and closes the daily candlestick above the $0.36 mark, it is likely to rise 30% to $0.465 in the coming days. .
Whale accumulates 90 million DOGE
As this consolidation progresses, whales have shown strong interest and confidence in meme coins.
According to a post on X (formerly Twitter) by a prominent crypto expert, the whale has purchased 90 million DOGE tokens. This significant accumulation by the whales has the potential to create buying pressure and fuel further upward momentum.
Current price momentum
DOGE is currently trading around $0.32, experiencing a price increase of over 2.45% in the past 24 hours. However, over the same period, trading volumes declined by 37%, indicating that recent market uncertainty has reduced participation by traders and investors.
