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Dogecoin 
$0.168521 (DOGE) is currently striving for recovery following significant market upheaval triggered by the $1.4 billion hack of the Bybit exchange. Over the last 24 hours, more than $566 million in positions were liquidated, leading to increased volatility. Despite this turbulence, some altcoins have shown strength, and market predictions suggest that Dogecoin could reach $3 if it maintains critical support levels. The recent surge in whale activities further supports this optimistic outlook.
Key Levels for Dogecoin Price
Crypto analyst Ali Martinez shared his technical analysis on Dogecoin’s price movements. He indicates that the memecoin is currently trading within an ascending parallel channel, targeting the $3 mark. Important support for DOGE lies between $0.19 and $0.16; if this level holds, the chances of recovery may increase. Should the upward trend continue, the price could potentially reach critical levels of $0.569, $1, $2, and $2.773.
Technical indicators are also aligning with these projections. The ascending parallel channel formation suggests that the price is creating higher highs and lows, indicating a bullish trend in the market. If momentum is preserved and DOGE manages to hold essential support levels, investors should anticipate a move toward the $3 target.
DOGE Gains Traction with Whale Activities
Currently, Dogecoin is trading around $0.24, having seen a 4% drop recently. As this level tests as support, the resistance has solidified at $0.30. Technical indicators show that the price is under pressure, with the RSI at 38, nearing oversold territory. The MACD indicator suggests that selling pressure could continue.
Whale activities remain a crucial factor in the market. Transfers of Dogecoin exceeding $100,000 have recently reached a total of 51,454. Generally, the increase in stablecoin balances held by whales indicates a cautious approach from investors.
If Dogecoin can maintain the $0.24 support, a recovery toward $0.25 and $0.30 could occur. However, a break below this support may lead to a decline toward $0.20. Should the market recover and expectations for a spot Dogecoin ETF strengthen, a significant price surge could take place.
