As a seasoned crypto investor with more than a decade of experience under my belt, I find myself intrigued by the recent surge in Dogecoin (DOGE) prices. Having weathered numerous market cycles and witnessed the rise and fall of countless digital currencies, I must admit that DOGE’s resilience is truly impressive.
In recent weeks, Dogecoin‘s value has seen significant growth, increasing approximately 30% from September 7.
Based on recent data from well-known cryptocurrency analyst Ali, it appears that a new price surge might occur if the meme coin manages to break through the $0.11 resistance level.
As a researcher observing the cryptocurrency market, I experienced a significant drop in Dogecoin (DOGE) prices during the initial week of September. The coin, which had been trading above $0.1, plummeted to a multi-week low of $0.089 on Bitstamp.
Initially, it dipped but later bounced back strongly, even exceeding $0.11 earlier today. At this moment, it’s hovering around $0.114, representing an increase of approximately 28% from its previous low.
As a crypto investor, I’ve come to understand that around 62,000 digital wallets are currently holding approximately 36 billion units of the original meme coin, purchased at the price point of $0.111. This substantial amount now serves as a significant psychological resistance level.
If investors opt to keep their Dogecoin holdings rather than offloading them for slight profits, it’s possible that the price could climb further over the next few weeks. Ali points out that there are no significant obstacles (supply walls) ahead, which might propel this meme currency towards a value of $0.15. This could represent an additional 30% increase from its current market prices.
#Dogecoin has broken through the resistance at $0.111, with approximately 62,270 wallets holding over 36 billion Dogecoins. If this level is maintained, it could signal a bullish breakout. With no significant obstacles ahead, a journey towards $0.150 seems possible!
— Ali (@ali_charts) September 26, 2024
As an analyst, I’ve been closely monitoring the market, and it appears that a significant development is unfolding for the leading meme coin – Dogecoin (DOGE). Recently, whales – large-scale investors – have amassed approximately $140 million worth of DOGE in just two days. This substantial accumulation could potentially ignite another rally, adding fuel to the coin’s momentum.
#Dogecoin whales bought over 1.40 billion $DOGE in the past 48 hours, worth around $140 million!
— Ali (@ali_charts) September 26, 2024
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2024-09-26 15:26