Dogecoin (DOGE) Could Surge by Another 30% if its Price Holds This Level: Analyst

Dogecoin Primed for Another 30% Surge

Dogecoin has experienced significant momentum in recent weeks, soaring by around 30% since September 7th.

Cryptocurrency analyst Ali suggests that a similar rally is possible if the meme coin breaks through the $0.11 resistance level.

Market Rebound and DOGE's Resurgence

Like the broader cryptocurrency market, DOGE faced a steep decline in early September, dropping to a multi-week low of $0.089. However, a recovery soon began, and DOGE surpassed $0.11 this week. Currently, it stands at $0.114, a 28% increase since its September low.

Whales and Psychological Resistance

According to Ali, over 62,000 wallets hold billions of DOGE purchased at $0.111, creating a crucial psychological resistance level. If holders maintain their positions, DOGE's upward momentum could continue. Ali adds that there are no major supply obstacles that could impede the coin's progress towards $0.15, representing an additional 30% jump.

Whales' Accumulation

A significant factor favoring DOGE is the accumulation of large amounts of the coin by whales. Ali's analysis shows that these investors have bought approximately $140 million worth of DOGE in just two days, potentially fueling a further rally.

In conclusion, Dogecoin has the potential to surge by another 30% if it sustains its break above the $0.111 level. Analyst Ali's observations on whale accumulation and psychological resistance provide further bullish sentiment.