Dogecoin is attracting renewed attention after strong buying from large investors signals growing demand. Market analysts are looking at significant price levels that will drive the next direction. Analysts are suggesting that if support keeps firming, a possible uplift looms for Dogecoin.
At the time of writing, DOGE is trading at $0.2335 with a 24-hour trading volume of $7.74 billion and a market capitalization of $35.93 billion. The price has seen a modest increase of 0.1% over the last 24 hours.
Notably, crypto analyst Ali Martinez reported that whales have acquired a whopping 2 billion Dogecoin in just 48 hours as proof of firm buying interests from large investors. This huge buying has caught notice from across the crypto space and is stoking speculations about DOGE’s next move.
Simultaneously, another analyst, Master Kenobi, highlighted that one of the key levels identified on September 13 has been troublesome for DOGE. The price was denied at this level and consequently confirmed one local trend channel. Kenobi explained that if the blue support line holds, which currently has over a 50% probability, Dogecoin will target $0.78 price mark later.
Overall, the trading volume of DOGE shows increasing momentum as whales accumulate and indicators signal that it could move upward. Investors and enthusiasts will likely monitor closely in order to see if DOGE will break resistance levels and reach its next target.
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The RSI is close to 51.95 with neutral momentum, and support levels from the MA Ribbon are $0.2437 and $0.2166. This means DOGE is trying to stay above key price floors despite selling pressure.
Looking at the MACD, the blue line is at 0.00946, slightly above the signal line at 0.00381, with a histogram that is still green. This implies positive momentum is not fully lost, but not strong. A good push will be needed to confirm a clear upward movement.
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