- Whales have accumulated more than 100 million dogcoins in 24 hours, reporting a strong purchase interest.
- The entry of 30 days of Dadecoin jumped 323.86%, while the 90 -day entrances rose 3,722.46%.
- A rounding pattern suggests a potential escape if Dogecoin exceeds the resistance of $ 0.50.
Dogecoin faced a difficult spot, decreasing for four consecutive days and lost more than 25% last week. This slowdown reflects the difficulties of other cryptocurrencies. However, under this crisis, there is a silver lining: large investors, known as “whales”, take large quantities of Dogecoin.
On February 7, analyst Ali Martinez highlighted That the whales had accumulated more than 100 million dogcoins in just 24 hours. This increase in whale activity suggests growing confidence and demand for memes cryptocurrency.
In addition, intotheblock data confirm This trend. During last week, Dogecoin’s entry measures increased by 5.33%, which indicates short -term coherent purchases. Looking at a broader delay, the 30 -day change is 323.86%, and more than 90 days, the entries soaring 3,722.46%. These figures highlight a significant increase in the interests of whales in the last three months.
The technical models indicate a potential rebound
While the Dogecoin price is currently in corrective phase, some technical analysts see promising signs. Bitcoin Investor Coinvo points to a clear rounding pattern on the weekly Dogecoin graphic. This model, which implies a gradual drop in prices followed by consolidation and recovery, often points out a potential upper break. The price has formed a rounded base, referring to the possibility of a significant increase movement as the model ends.
The dotted pink line on the graph marks the level of resistance around $ 0.50, aligning with the neckline of the pattern. The rupture of this critical level could trigger a parabolic price rally, in accordance with the bullish implications of the bottom.
Coinvo had previously identified A corrective ABC wave motif on the daily graphic. According to him, “everything points to a moving doge higher.” His analysis indicates that Dogecoin can approach the end of its current correction phase, increasing the possibility of a bullish reversal.
Historical trends and future projections
With hindsight, another market analyst has examined The historic price movements of Dogecoin to predict a possible peak in its current cycle. The observations of the previous cycles show that Dogecoin followed a recurring scheme, the cutting -edge prices appearing approximately every 1,442 days.
Historical data reveal that Dogecoin jumped 21,821% during its first cycle recorded, reaching a peak in January 2018. The second cycle, ending in May 2021, experienced an increase of 54,890% of its low cycle. Based on these models, the analyst suggests a price goal exceeding $ 10. However, the graphic data involves an even more ambitious projection, believing that Dogecoin could increase to $ 440. Although such targets may seem extreme, past performance indicates that Dogecoin has the explosive growth potential.
Dogecoin remains a very volatile asset, but with the increase in the accumulation of whales and bullish technical indicators, the potential of an upward movement cannot be ignored. If the momentum continues, the breakdown of the resistance of 0.50 could be the key to unlock a major rally in the coming months.
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