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CoinGape 2025-02-05 11:56:52

DOGE Whale History Suggests Dogecoin Price Could 3X

DOGE Whale History Suggests Dogecoin Price Could 3X

Dogecoin price exhibits market volatility as the broader crypto sector struggles to regain momentum. The price chart indicates a fluctuating uptrend, suggesting potential gains. With DOGE maintaining support above $0.26, historical whale activity hints at a possible 3X surge. If accumulation trends persist, Dogecoin could see a notable price increase soon. Dogecoin Price Could Triple as DOGE Whale History Repeats The Dogecoin recent market activity suggests a potential price rally, fueled by a surge in whale transactions. Historical data reveals that on December 20, 2024, DOGE suffered a steep 45% decline over 12 days. However, a sudden increase in whale transaction counts above the 200-day moving average signaled strong accumulation, leading to a 52% price recovery within 15 days. A similar trend is unfolding now, as Dogecoin experiences a 53% crash over 16 days while whale transactions spike above the 200DMA. Market analysts point to the triple confluence of a sharp price drop, rising whale transaction volumes, and a key technical breakout above the 200-day moving average as indicators of a potential bullish reversal. Past patterns indicate that when whales increase buying activity after a steep correction, the DOGE price tends to surge significantly in the following weeks. This aligns with this scenario, raising expectations that the top meme coin may soon see another rapid price appreciation. Will DOGE Repeat Its Bullish Fractal Pattern? Crypto analysts have drawn attention to a potential fractal pattern in Dogecoin price action. The analyst shared a chart comparing DOGE’s past rallies with its current structure, suggesting that history could repeat itself. The analyst highlights Dogecoin’s bounce off the 200-day SMA, a key level that triggered a major price surge. In early 2024, DOGE followed a similar pattern, consolidating before a sharp breakout. If this fractal holds, the price could aim for the 1.618 Fibonacci extension level, targeting approximately $0.706. Currently, DOGE is trading around $0.26 after dipping from the $0.48 range. Traders are closely watching whether the 200-day SMA will act as strong support again, potentially fueling another bullish run toward the projected target. Dogecoin Price Analysis DOGE Price traded at $0.267 on Wednesday, February 5th, slightly recovering after its recent decline. The meme coin had fallen below key resistance levels but found support around $0.25 before rebounding. The Chaikin Money Flow (CMF) indicator stands at 0.10, suggesting modest buying pressure. A continued rise could indicate stronger accumulation. The Relative Strength Index (RSI) at 41 remains below the neutral 50 mark, indicating weak bullish momentum. Key Support and Resistance Levels To Watch The $0.30 Resistance level remains a critical barrier for bulls. A breakout above this could lead to a rally toward $0.35. Conversely, a failure to maintain momentum may push the Dogecoin price forecast lower, testing the $0.25 support level again. Dogecoin price Chart: TradingView Dogecoin whale activity suggests a potential 3X surge if historical trends hold. A breakout above $0.30 could confirm bullish momentum, driving prices higher. However, failure to sustain key support may trigger another correction. The post DOGE Whale History Suggests Dogecoin Price Could 3X appeared first on CoinGape .

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