CandleFocus Dogecoin Whales Buy 160M DOGE, Will Price Reach $1 Soon?
2024-12-13
Author: Content Editor
Dogecoin (DOGE) has experienced a surge in whale activity, with large investors purchasing 160 million DOGE in the past 24 hours. This comes as DOGE has seen a 350% rise in price and has gained attention from both retail and institutional investors. Analysts believe that DOGE's price could reach $1 soon due to growing demand. Recent analysis of the DOGE price chart suggests the formation of a double-bottom pattern, signaling a potential price increase. The cryptocurrency's price is currently holding strong above the neckline at $0.4074. Other meme coins' performance and Bitcoin's price above $100k are expected to positively influence DOGE's price. However, the MACD indicator shows diminishing bullish momentum, while the CMF indicates continued capital inflows. If bearish pressure increases, DOGE could retrace to lower support levels at $0.40 and $0.35.
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