Price: $0.19121 -3.5002%
Market Cap: 28.05B 1.1242%
Volume (24h): 4.45B 0.2%
Dominance: 1.1242%
Price: $0.19121 -3.5002%
Market Cap: 28.05B 1.1242%
Volume (24h): 4.45B 0.2%
Dominance: 1.1242% 1.1242%
  • Price: $0.19121 -3.5002%
  • Market Cap: 28.05B 1.1242%
  • Volume (24h): 4.45B 0.2%
  • Dominance: 1.1242% 1.1242%
  • Price: $0.19121 -3.5002%
Home > Information news > Dogecoin Price Gains Momentum as Whales Dive In, Is $0.3 Next Stop?

Dogecoin Price Gains Momentum as Whales Dive In, Is $0.3 Next Stop?

Release: 2024/03/30 01:34 Reading: 878

Original author:Coingape News Media

Original source:https://coingape.com/?post_type=markets&p=188713

Dogecoin Price Prediction: Defying the current market correction, the Dogecoin price witnessed an aggressive rally in the fourth week of March. From the bottom of the last correction at $0.122, the coin price surged 78% to reach the current trading price of $0.21. This rally recently breached the last swing high resistance of $0.2, signaling the potential for higher recovery.

Also Read: Dogecoin: Whales’ 1.8 Bln DOGE Move Ignites Uproar As Price Rallies, What’s Next?

Whales Buy $280M in DOGE, Fueling a Robust V-Recovery

Amid the Bitcoin price recovery from $60000, Dogecoin rebounded from the combined support of the 50-day EMA and 61.8% Fibonacci retracement level. This V-shaped reversal backed by a notable surge in the volume reflects a high momentum buying and memecoin enthusiast.

In a recent observation made by the renowned trader @alicharts, Dogecoin has seen significant interest from large-scale investors, commonly referred to as ‘whales’. 

Over the past two weeks, these whales have accumulated approximately 1.40 billion DOGE, equivalent to a staggering $280 million investment. This activity suggests robust confidence from high-net-worth individuals in Dogecoin’s future market performance.

Also Read: Dogecoin Price Rallies 20%: Key Reasons Behind DOGE’s Recent Jump

DOGE Soars Beyond $0.20 as Rounding Bottom Pattern Emerges

On March 28th, the DOGE price gave a massive breakout from $0.206 resistance to hit a 28th-month high of $0.2288. However, with an intraday loss of 2.4%, the coin price is likely to retest the breached resistance and potential support.

Susutiantin breakout should bolster buyers to chase a potential target of $0.27, followed by $0.3.

The broader chart analysis reveals that Dogecoin’s price trajectory is forming a rounding bottom pattern, indicative of a gradual and steady shift from a downtrend to an uptrend, characterized by a U-shaped recovery that suggests long-term sustainability.

Technical Indicator

  • Exponential Moving Average: The 50-day EMA acts as suitable support during market corrections. 
  • Relative Strength Index: The RSI slope stretching above 70% the buyers are aggressive and ready to buy this asset at a premium.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.