Rally

Dogecoin

<p style="text-align: justify;"><a href="https://en.coin-turk.com/what-to-expect-for-dogecoin-support-and-resistance-levels-for-investors/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Dogecoin</a>, the largest memecoin in the world, has remained relatively quiet during the recent altcoin market rally. However, the technical outlook indicates that Dogecoin is preparing for a strong breakout with its descending triangle pattern on the price chart.</p> 
<h2 style="text-align: justify;" id="23-200-increase-possible-in-dogecoin">23,200% Increase Possible in Dogecoin</h2> 
<p style="text-align: justify;">The weekly price chart of Dogecoin, a popular altcoin, suggests that <a href="https://en.coin-turk.com/why-is-dogecoin-doge-rising-price-analysis-and-predictions/" data-wpel-link="internal" rel="noopener noreferrer nofollow">DOGE</a> has formed a strong descending triangle pattern. <a href="https://en.coin-turk.com/crypto-watch-bitcoin-and-altcoins-remain-steady-amidst-rising-us-debt-ceiling-concerns/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto</a> analyst Ali Martinez points out that when DOGE last formed a descending triangle chart pattern, it saw a 23,200% increase. For the pattern to work, any sustained candlestick closing above $0.08 for the memecoin may be sufficient.</p> 
<p style="text-align: justify;"><img decoding="async" class="aligncenter wp-image-239419" src="https://coin-turk.com/wp-content/uploads/2023/07/Altcoin-Dogecoin-DOGE.jpeg" alt="" width="802" height="574"></p> 
<p style="text-align: justify;">Of course, there is no guarantee that assets with high volatility, such as altcoins, will repeat their past price movements against a pattern. However, a breakout from this particular pattern will undoubtedly result in an upward movement for Dogecoin and drive its price higher.</p> 
<h2 style="text-align: justify;" id="increasing-whale-activity-in-dogecoin">Increasing Whale Activity in Dogecoin</h2> 
<p style="text-align: justify;">Recent data shows an increasing interest in DOGE from many cryptocurrency investors. According to the data from crypto analytics platform IntoTheBlock, there has been a significant increase in the total amount of DOGE held by large cryptocurrency investors, also known as whales, throughout the past week. As of July 16th, there were only 770 large transactions containing over $100,000 worth of DOGE. Currently, the number of these transactions has risen to 1,300.</p> 
<p style="text-align: justify;">At the time of writing, the popular altcoin is trading at $0.07166, experiencing a 0.77% decrease in the last 24 hours, with a small resistance at $0.072. Around this price level, a total of 382.79 million DOGE has been purchased by 8,180 Dogecoin wallet addresses. The next significant resistance range for Dogecoin is between $0.072 and $0.085, where 40.22 billion DOGE has been purchased by 599,390 Dogecoin wallet addresses. These levels act as potential barriers to further price increases.</p> 
<p style="text-align: justify;">As is known, Dogecoin plays a significant guiding role for other memecoins. The price movements of the first and largest memecoin are often copied by other memecoins.</p> 
<h5>The post <a href="https://en.coin-turk.com/major-rally-preparation-underway-in-the-prominent-altcoin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Major Rally Preparation Underway in the Prominent Altcoin!</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS.</a></h5>

Major Rally Preparation Underway in the Prominent Altcoin!

Table of Contents

COINTURK NEWS

Other articles published on Jul 24, 2023

Worldcoin to Launch Token $WLD on Monday and Announce Tokenomics

Avalanche Price Prediction: Avax Price Melts Below $15 Level

Bitcoin Price Analysis: Bears Take Out 29089 - 25 July 2023

Move over, crypto. Cannabis is the new cool kid in the block

Swift and Chainlink Join Forces: Pioneering the Path to Blockchain-Backed Finance

Countdown Begins! ChatGPT Founder’s Altcoin Worldcoin (WLD) Takes Its Place in the Market Today!

Join our free newsletter for daily crypto updates!