Dogecoin (DOGE) has seen a wave of whale activity, with large-scale investors accumulating 270 million DOGE in just five days.
Crypto analyst Ali Martinez revealed in a post on X (formerly Twitter) that whales have taken advantage of the recent dip to expand their holdings.
At the current trading price of $0.33, this accumulation is valued at approximately $89 million. This surge in whale activity underscores confidence in Dogecoin’s long-term potential, even as bearish pressures dominate in the short term.
The accumulation trend is not new; since November, whales have consistently added millions of DOGE to their wallets during downtrends. A
nalysts believe these large purchases could signal an anticipated rally as whales position themselves for future price surges.
Historical Patterns Signal Potential Rally – DOGE to $5?
Trader Tardigrade, another prominent crypto analyst, suggests Dogecoin’s price movement may soon align with historical patterns of parabolic rallies. Based on chart analysis, recurring rounded consolidation phases have often preceded significant price explosions for DOGE.
If the pattern holds, the meme coin could see its price soar to $5—a 1,415% increase from its current value.
Source: X
These bullish projections come despite broader market challenges. While technical indicators show consolidation, a breakout above resistance levels could trigger a strong upward momentum. This optimism fuels traders’ interest, with many monitoring key support and resistance levels closely.
Dogecoin (DOGE) Price Outlook: Technical Outlook
Dogecoin is trading at $0.3163, down 4.51% in the last 24 hours, with a 24-hour trading volume of $2.46 billion. On the 2-hour chart, DOGE remains under bearish pressure, constrained by a downward trendline and resistance at $0.3270.
This aligns with a bearish crossover below the 50-day EMA at $0.3185, indicating further downside potential.
Key Levels to Watch:
Resistance Levels: Immediate resistance at $0.3270, with further upside targets at $0.3464 and $0.3816.
Support Levels: Immediate support at $0.3039, followed by $0.2850 and $0.2620 if selling pressure intensifies.
The Relative Strength Index (RSI) at 34.54 indicates oversold conditions, suggesting the potential for a short-term rebound. However, sustained bearish sentiment and market uncertainty keep the outlook cautious.
Key Takeaways:
Whale Activity: Whales purchase 270M DOGE, reinforcing confidence in its long-term growth.
Bullish Patterns: Historical price trends hint at a potential rally to $5.
Critical Levels: Traders should monitor $0.3270 for a breakout and $0.3039 for downside risks.
WEPE: $36M Raised, Price Hike in Final Hours
Wall Street Pepe ($WEPE) is making a strong impact in the meme coin market, with $36 million raised in its presale. With just less than 24 hours left until the next price increase, $WEPE continues to gain traction and is positioning itself as a serious contender in the space.
Key Features Powering WEPE’s Growth
High-Yield Staking Rewards: WEPE offers up to 400% APY for staked tokens, fueling long-term investor participation. Over 14 billion tokens have already been staked, showing strong community support and reducing circulating supply.
Enhanced Security & Transparency: WEPE has passed thorough audits with no critical vulnerabilities detected, ensuring robust security. The project also features no developer token allocations, preventing insider-driven price manipulation.
Exclusive VIP Community Insights: $WEPE holders gain access to a VIP group offering market updates and expert-driven strategies, adding value to its growing investor base.
As the presale moves forward, $WEPE is attracting significant investor interest. The current token price is $0.0003656, and with only a few hours remaining before the next price increase, time is running out for investors to get in at this price.
Join the momentum and secure your $WEPE tokens before the price increases.
The post Whales Scoop Up 270M DOGE as Prices Drop – Is DOGE About to Hit $10? appeared first on Cryptonews.
