Analyst Highlights Key Levels for Dogecoin Amid Whale Activity

Meme Coins’ undisputed leader, Dogecoin (DOGE), continues to see developments. Recently, whale transactions have accelerated, and a prominent market analyst made significant statements, sharing a chart indicating important levels for DOGE.

Whale Transactions in DOGE

As the selling pressure on DOGE increases, whale transactions continue. According to data from Whale Alert, DOGE worth over $61 million was moved.

For example, on July 20, 400 million DOGE worth $50.33 million was sent from the Robinhood exchange to an unknown wallet. Similarly, on July 23, 77.65 million DOGE worth approximately $10.82 million was transferred from the Robinhood exchange to an unknown wallet.

Amid the whale activity, critical price levels for DOGE continue to attract attention, with the $0.15 region being a key value. At the time of writing, DOGE was trading at $0.1313 after a 6.54% loss during the day. Weekly reviews indicated a 4.38% increase in value.

Important Levels for DOGE

Renowned market figure RLinda highlighted some important price levels to watch for DOGE on July 23. According to RLinda, Dogecoin’s bottom level is between $0.10 and $0.05. This area served as an accumulation level in the spring months.

Recently, DOGE dropped to $0.106 and retested this level. The strong defense of this level by the bulls created optimism for a potential upward sentiment.

In the daily price analysis, the analyst suggested that Dogecoin could break its current formation and rally to $0.1437. If the bulls remain strong and maintain support levels at $0.126 and $0.12, the bullish outlook could persist in the market.

Based on the bullish outlook, RLinda advised investors to monitor key resistance levels at $0.1437 and $0.1657, while support levels should be watched at $0.126 and $0.12.

There is no fundamental analysis, but technically, expectations are good. Various services indicate an increase in whale activity in DOGE, which could signal growing interest. I expect a positive outcome from the bulls, followed by a rally towards areas of interest.