- Analysts suggest that the dogecoin price could surge toward $10 if it maintains support above $0.19.
- Analyst Javon Marks predicts a potential rally surpassing $20, referencing DOGE’s historical market cycles.
- Whale accumulation of 750 million DOGE amid price drop indicates strong investor confidence and potential rebound.
Dogecoin (DOGE) price has gained attention following recent analyses indicating a potential surge. Analysts suggest that if DOGE maintains a critical support level, it could see a significant rally. The cryptocurrency has shown resilience, remaining within an ascending channel, which could indicate further upward movement in the coming weeks.
Analyst Ali Martinez provided a separate technical perspective on the Dogecoin price, emphasizing the importance of maintaining a key support level. According to his analysis, DOGE must remain above $0.19 to retain its bullish setup. If this level holds, the meme coin could see a substantial rally, targeting a potential rise toward $10 in the next bullish phase.
Martinez’s chart illustrates an ascending price channel, showing that DOGE has historically followed a structured upward trend. He identified multiple resistance and support zones, suggesting the asset could continue its upward momentum. His analysis indicates that breaking below $0.19 could weaken the bullish outlook, while sustained price action above this level may drive further gains.
Could Dogecoin Price Rally to $20?
On the upside, $0.3 remains a key resistance level that Dogecoin must reclaim to confirm a bullish reversal. A successful breakout above this barrier could open the door to higher price targets, including $0.325 and $0.35. If strong momentum builds, DOGE could even test $0.4, a significant psychological level for investors and traders.
Analyst Javon Marks has shared insights on Dogecoin price, suggesting that its historical market cycles indicate the potential for a substantial rally. Marks referenced previous cycles where DOGE experienced exponential growth, with a 90X increase in 2017 and a surge exceeding 306X in 2021, with each bullish phase outperforming the previous one.
His analysis projects that if DOGE follows the same pattern, it could experience another massive rally, surpassing its previous all-time high. Marks highlighted that DOGE demonstrated a repeating trend of accumulation and breakout phases. He suggested that if this trend holds, DOGE could achieve a rally exceeding 306X, pushing its price beyond $20.
Whale Accumulation Fuels Bullish Sentiment
Despite bullish projections, Dogecoin (DOGE) price has experienced a 14% decline in the past 24 hours, trading at $0.002134. Market data shows that the meme coin’s trading volume surged by 64.53% to $6.37 million, indicating heightened activity and interest from investors amid the latest downturn.
DOGE whales have been buying aggressively, accumulating 750 million tokens amid the recent price drop to $0.2. This large-scale accumulation suggests strong investor confidence and a potential rebound in Dogecoin price. Whale activity remains a crucial factor in determining DOGE’s next major move.
The latest market activity indicates a surge in whale accumulation as large investors seized the recent dip to purchase 750 million DOGE. The substantial buy-in suggests renewed confidence in the cryptocurrency market, signaling potential bullish sentiment among major holders.
On-chain data highlights increased activity from wallets holding between 10 million and 100 million DOGE. This spike in accumulation coincided with a market downturn, reflecting whales’ strategic positioning. Analysts view this development as a possible indicator of upcoming price movements, reinforcing optimism in the Dogecoin ecosystem.
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