As the Dogecoin price consolidates, it may be rising that it may be defeated in the near future. The analyst has identified a unique diagram pattern and increased its purpose to $ 1.1, which is 510%of the current level. In addition, there are signs that the whales have slowly collected the coin.
Crypto Analyst looks like a Dogecoin price rising to $ 1.1
Dogecoin Price is trading today for $ 0.18, which has been stuck in the last few weeks. Although the coin does not show short -term diagram bullish trends, the analyst believes that it is a long -term bullshit It saw it exceeding the psychological point to $ 1 and then finally reached $ 1.1.
The analyst quoted a weekly chart below and drew two trends. The lower line connects the lower height from October 2023. Similarly, the upper side of his chart binds the key level to $ 0.23 and $ 0.50.
He then found the first wave with the highest swing in April 2022 and the highest swing. This wave was about 290%. The second wave ran its lowest in September and in December 2024.
After falling on the lower side of the giant megaphone pattern, the analyst predicts that the next pump will push it to $ 1.1. He hopes that this doge prit will push it in September this year.
Whales gather doge
Bullish Dogecoin's price view is likely to explain why whales have continued in the last few months. On May 1, Ali Martinez noted that the whales had bought 100 million DOGE in the last week alone. At the current price, these coins are worth over $ 18 million.
Deep diving shows that whales have accumulated since March 7th. At that time, the number of coins held by whales between 1 million and 10 million coins jumped from 10.3 billion to 10.59 billion or 290 million coins. The whales are considered to be a bullish signal in cryptocurrency analysis.
DOGE price forecast: rotary and shoulder forms
The short-term DOGE price forecast is also a bullish, as it has slowly formed a rotary and shoulder pattern in the eight-hour chart. Its head is $ 0.1305 at the lowest level of April and has a sloping shoulder.
The coin has also moved above the 50-period moving average, providing strong support. Therefore, the most likely Dogecoin forecast is where it will rise to a potentially next point to $ 0.2087, which is about 15% higher than the current level. Exceeding this level brings its next goal to $ 0.2420, which is the highest level of March 2.
The fall at the right shoulder at 0.1513 dollars will invalidate the prospect of the bullish and further point to the negative side to $ 0.12.
Frequent questions (FAQ)
The analyst has identified two long -term waves and now predicts that it enters the third.
The most likely Dogecoin prediction is where it has a bullish cut because it has formed a pattern of inverse the head and shoulders.
Dogecoin prices are likely to rise because there are signs that whales recently gather in the coin.
crisp
Crispus is an experienced financial analyst at Coingape, which has a 12 -year experience. It focuses on bitcoin and others on the Altcoins, covering the intersection of news and analysis. His knowledge has been reflected on well -known platforms such as Banklesstes, Coinjournal, Hypeindex, Seekingalpha, Forbes, Investingcube, Investing.com and Moneytransfers.com.
Obligations: The content presented may include the author's personal opinion and its subordination is the market condition. Do your market research before investing in cryptocurrency. The author or publication is not responsible for your personal financial loss.
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