- The accumulation of more than 120 million dogs by whales signals a growing trust of investors, which often follows rising courses.
- Analysts predict a possible dog rally to $ 4.5 or higher, but market volatility and external factors remain important factors.
Dogecoin whales hoarded 300 million Dogen token this year-CNF reported. New Onchain data show that the Doge Whales accumulated over 120 million doge last week, which triggered speculation about a course jump of the popular Memevoin.
The considerable accumulation indicates that whales position themselves for a rise. In the past, such WAL activities have often preceded price recovery, since large investors usually anticipate cheap market movements earlier than the rest of the investors and dealers. This behavior is seen as a positive signal, especially in consolidation phases.
Market mood and external factors
The technical analysis indicates important levels of support and resistance that could determine Doge’s course. The nearest support zone is $ 0.15, which could be a decisive level for buyers to maintain the momentum – CNF reported:
“There are a number of factors that could prevent Dogecoin from achieving the expected outbreak. The persistent global trade conflicts have unsettled the financial markets and make it difficult for digital assets. In addition, macro -economic issues, including inflation and monetary decisions, continue to affect the mood of investors.”
In addition, the resistance levels at $ 0.25 and $ 0.30 could be a challenge for a further increase in the course. The monitoring of these levels can help dealers make sound decisions about entry and exit points and at the same time effectively control the risk.
In addition to the technical indicators, the general mood on the cryptocurrency market and external factors such as regulatory developments and macroeconomic conditions also play a decisive role in the price movement of Doge.
Since Bitcoin lasts over $ 70,000, a persistent upward trend on the wider cryptom market could continue to support the Doge course. However, investors should stay up to date on the developing market trends, since sudden changes to regulations or macroeconomic conditions can affect prices.
How high can Doge rise?
Several analysts have commented on Doge’s future course development. “Trader Tardigrade” emphasized that the simple gliding 20s average of Doge enters into an exponential phase, which indicates a possible increase to up to $ 4.5-which would mean a new ATH.
“Crypto Elites” even claims that a dog course increase to $ 5 could be imminent,
“Dogecapital” meant an extremely optimistic outlook and predicted that Doge could increase up to $ 80.
Although these forecasts ensure conversation, investors should enjoy them with caution in view of the volatility of the cryptom market. When writing this article, DOGE was traded at $ 0.1748, with an increase of 4.17% since yesterday and 1.37% last week.
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