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Reading: Dogecoin Price Declines While Whale Activities Fuel Speculation
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COINTURK NEWS > Dogecoin (DOGE) > Dogecoin Price Declines While Whale Activities Fuel Speculation
Dogecoin (DOGE)

Dogecoin Price Declines While Whale Activities Fuel Speculation

In Brief

  • Dogecoin's price has decreased after reaching a daily high.

  • Whale transfers are raising speculation about potential price increases.

  • Technical analysis indicates possibilities for bullish trends in Dogecoin.

Fatih Uçar
Fatih Uçar 6 months ago
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Dogecoin $0.191642 (DOGE) has shown a downward trend in price over the last 24 hours. The price of DOGE, which peaked at $0.424 during the day, has fallen to a low of $0.3668.

Contents
Whale Activities Ignite Price Increase SpeculationTechnical Analysis Offers Hope for Bullish Prospects

Whale Activities Ignite Price Increase Speculation

The transfer of large amounts of DOGE by whales has caught the attention of market participants. According to Whale Alert data, approximately 61 million DOGE, valued at $23.5 million, was transferred from an unknown wallet to the Robinhood platform.

Following this, another transfer of about 85.4 million DOGE, valued at $32.9 million, took place. These significant transactions could signal important developments for Dogecoin’s price.

Ali Martinez, a crypto analyst, stated, “Dogecoin is just at the beginning of its upward cycle.”

Martinez noted that DOGE has the potential to rise to $3 in the current bull market, with a long-term price target of $18. He pointed out that the regression channel on weekly charts indicates upward movement potential for DOGE.

Technical Analysis Offers Hope for Bullish Prospects

Another crypto analyst, Tardigrade, indicated that DOGE has broken out of a symmetrical triangle formation, signaling a bullish trend. He mentioned that a pullback to the $0.44 level could present a buying opportunity for investors.

Tardigrade also added that DOGE’s price could rise to $0.65, representing a 50% profit potential for investors. The whale movements in the Dogecoin market and technical analysis findings lead investors to closely monitor future price movements. Major transfers often indicate possible market trend changes, while technical indicators support bullish potential.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 11 December, 2024 - 8:14 am 11 December, 2024 - 8:14 am
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