The post 3 Charts Hint Dogecoin Price Could Hit $1 As Whales Accumulate 550M DOGE appeared on BitcoinEthereumNews.com.

Dogecoin’s (DOGE) exponential.rally allowed it to overcome a key resistance level as meme coins and other altcoins rallied last week. A mix of the optimistic crypto conditions coupled with whales accumulating half a billion DOGE tokens suggests that its price could extend this rally and tag $1 soon. Dogecoin Climb as Whales Accumulate 550 Million DOGE  According to Sanitment data, Dogecoin whales are clearly accumulating and explains why the price may surge to $1 soon. When high net worth investors such as whales buy, they have the ability to instill confidence and move markets. The chart attached below shows that such investors accumulated over 550 million DOGE between January 1 and today. With Dogecoin price trading around $0.410, these tokens are worth over $245 million. Altogether, whales have bought over 22.49 billion DOGE coins in the past few months. This accumulation is notable because the meme token was in consolidation and is likely to result in a massive move to the upside. Dogecoin Price Whales   Dogecoin Price Forecast Using Fibonacci Extension Tool The other chart focuses on the Fibonacci Extension. This tool is added by connecting key swings and identifying key levels. In this case, connecting the highest and lowest levels in November and December shows that the 361% extension lands at $1.0790. That is a sign that the value of DOGE will rally to $1 in the long term.  DOGE Price Fibonacci DOGE Reveals A Bullish Pennant Pattern The third chart shows that Dogecoin price is slowly forming a bullish pennant chart pattern on the weekly chart. This pattern’s flag pole started forming in September when it bottomed at $0.0837. It then reached a high of $0.4840 in November.  The recent consolidation is part of the formation of the symmetrical triangle pattern. This means that a bullish breakout may…

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Filed under: News - @ January 18, 2025 3:27 am