Whales May Have the Answer to Dogecoin Breakout Odds!
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- Whale activity and historical trends indicate the potential for a significant bullish breakout at $0.40
- Increasing network activity and solid metrics bolstered DOGE’s trajectory towards $0.50
The latest wave of whale activity in Dogecoin [DOGE] has been remarkable, with over 200 million tokens being collected in just 48 hours. This uptick in demand has sparked renewed investor enthusiasm about DOGE’s upcoming breakout.
As of the latest update, DOGE is trading at $0.3854, reflecting a 1.61% rise in the last 24 hours. Whale accumulation often serves as an early warning signal of pronounced price shifts, causing heightened expectations for a bull market shortly.
Bull Run Cycle – Will History Repeat Itself?
DOGE’s past price movements have demonstrated that after a significant rally in January 2021 following a 56% decline, Dogecoin now seems to be closing out its current cycle after experiencing a similar downturn of 46%.
This pattern resembles previous cycles where such corrections typically precede substantial upward price movements during bullish periods. If history holds true, Dogecoin may witness an upward trend as soon as next week, targeting key resistance levels at $0.40 and $0.50.
Source: X/Ali (19659013) DOGE Price Movement – Which Way Is It Heading?
The formation of a cup and handle pattern suggests that Dogecoin is gearing up for further upward movement, having approached the critical resistance level of $0.40 recently; overcoming this could set off bullish momentum towards $0.50.
However, if interest wanes, we might see pricing retreat to around the support level of $0.30—critical days lie ahead for sustained upside potential.
Growing Network Activity – Daily Active Addresses
Dogecoin’s daily active addresses are nearing 80 distinct thousands—a clear indicator that user engagement is on an uptick and showcasing significant network involvement.
Elevated participation rates often boost price stability by heightening broader interest.
A consistent increase may also draw further investors into DOGE’s bullish narrative while declining engagement could hinder confidence among traders.
