DOGECOIN (DOGE), the popular cryptocurrency based on the same, once again attracted the attention of analysts, some qualifying it as first-rate buying opportunity due to emerging upper trends, of the mania of coins, well, from Doge to a dollar, I am right. ?
A combination of technical analysis and whale activity is originally renewed optimism For the Dogecoin price potential, which suggests that it could be about to make important gains in the near future.
Key graphics models indicate an upward dynamic
The eminent tradingView analyst, Cobravanguard, A highlighted two bullish graphics models which indicate a potential rally for Dogecoin. The first is the ascending triangle, having a flat resistance line while the support is on the rise. This always gives an increase in the price of the price. The second is the cut and the handle, signaling the upward prosecution. This shows that after consolidation, the part is likely to burst.
The level of $ 0.50 is a potential increase in Dogecoin (DOGE). Source: Cobraavant-Garde/TradingView
Currently, Dogecoin tries to break the resistance area between $ 0.37 and $ 0.40. A successful break above this level could see the room targeting the $ 0.50 bar, a gain of almost 39 % compared to its current price of $ 0.36. Cobravanguard also noted the possibility of a butterfly motif, a harmonic formation which could either indicate a exhaustion of the trend, or strengthen the rally.
The accumulation of whales stimulates market optimism
In addition to technical factors, whale activity plays an important role in the development of Dogecoin. Handy perspectives. Analyst Crypto Ali Martinez revealed that the whales bought approximately 1.83 billion DOGE in 48 hours, followed by 590 million additional DOGE in the following 24 hours.
This strong accumulation has created substantial purchase pressure, contributing to a recent price increase of 10 %. The rapid and coordinated actions of these major holders bear witness to the confidence in the potential of additional Dogecoin gains, amplifying the positive feeling on the market and attracting small particular investors.
Larger catalysts: ETF deposit and Musk influence
Two external factors have further fueled optimism around Dogecoin. First, Rex Shares and Osprey only recently filed for FNB Dogecoin With the dry of the United States. When this is, let’s hope, approved, this could also unlock significant institutional investments in Dogecoin.
Market experts believe that Dogecoin ETF approval will drop the price of the DOGE to $ 1. Source: Dogecoinrid via x
Second, the creation of the department of government efficiency by Elon Musk aroused interest Dogecoin enthusiasts. Although the name of the department can be a simple coincidence, its acronym falling on Dogecoin added an unexpected layer to the bullish feeling of the room.
Analysts predict substantial gains
Analyst Trader Tardigrade identified a macro configuration resembling a cup and a handful in the long -term graph of Dogecoin, suggesting that the room could bounce towards higher price targets. Likewise, the ZER0 market analyst predicts a potential rebound at $ 4.20, which would mark an astounding increase of 5 202 % compared to the recent lower of the token.
When putting in press, Dogi was traded at $ 0.35. Source:New courageous play
Historical data support these bullish projections. Dogecoin exposed Initial thrust models Followed by more significant recoil and rally. For example, during the 2021 bullish race, DOGE climbed approximately 23,000 % from its lower to a historic summit of $ 0.74.
Risks and considerations
Despite this optimism, Dogecoin’s future performance depend on several variables. Maintain upward dynamic It will be a continuous accumulation of whales, successful breaks of key resistance levels and favorable market conditions. In addition, regulatory decisions, such as ETF deposit resultcould have a significant impact Dogecoin trajectory.
At the time of writing this article, Dogecoin is negotiated at $ 0.35, down 3.59 % in the last 24 hours, according to Data on the new courageous piece. That the current bullish feeling will result in sustainable price increases, it remains to be seen.