2024

Momentum

Dogecoin

Gains

Dogecoin Price Prediction: Defying the current market correction, the <a href="https://coingape.com/price/dogecoin/" rel="noopener noreferrer nofollow">Dogecoin price</a> witnessed an aggressive rally in the fourth week of March. From the bottom of the last correction at $0.122, the coin price surged 78% to reach the current trading price of $0.21. This rally recently breached the last swing high resistance of $0.2, signaling the potential for higher recovery.
Also Read: <a href="https://coingape.com/dogecoin-whales-1-8-bln-doge-move-ignites-uproar-as-price-rallies-whats-next/" rel="noopener noreferrer nofollow">Dogecoin: Whales’ 1.8 Bln DOGE Move Ignites Uproar As Price Rallies, What’s Next?</a>
<h2 id="b-whales-buy-280m-in-doge-fueling-a-robust-v-recovery-b">Whales Buy $280M in DOGE, Fueling a Robust V-Recovery</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/h/HFHFkuY0.png" alt="BINANCE:DOGEUSDT Chart " width="1946" height="937">
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 Dogecoin Price| Tradingview
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</figure>
Amid the Bitcoin price recovery from $60000, <a href="https://coingape.com/dogecoin-defies-broader-market-trends-with-6-surge-doge-price-breakout-soon/" rel="noopener noreferrer nofollow">Dogecoin</a> rebounded from the combined support of the 50-day EMA and 61.8% Fibonacci retracement level. This V-shaped reversal backed by a notable surge in the volume reflects a high momentum buying and memecoin enthusiast.
In a recent observation made by the renowned trader @alicharts, Dogecoin has seen significant interest from large-scale investors, commonly referred to as ‘whales’.&nbsp;
Over the past two weeks, these whales have accumulated approximately 1.40 billion DOGE, equivalent to a staggering $280 million investment. This activity suggests robust confidence from high-net-worth individuals in Dogecoin’s future market performance.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Dogecoin</a> whales have purchased 1.40 billion <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$DOGE</a> over the past two weeks, worth around $280 million! <a href="https://t.co/zswuyRpuLG" rel="noopener noreferrer nofollow">pic.twitter.com/zswuyRpuLG</a>
 — Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1773603033949110698?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 29, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Also Read: <a href="https://coingape.com/dogecoin-price-rallies-20-key-reasons-behind-doge-recent-jump/" rel="noopener noreferrer nofollow">Dogecoin Price Rallies 20%: Key Reasons Behind DOGE’s Recent Jump</a>
<h2 id="b-doge-soars-beyond-0-20-as-rounding-bottom-pattern-emerges-b">DOGE Soars Beyond $0.20 as Rounding Bottom Pattern Emerges</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/m/MV4eOUzN.png" alt="BINANCE:DOGEUSDT Chart " width="1946" height="937">
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 Dogecoin Price| Tradingview
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</figure>
On March 28th, the <a href="https://coingape.com/dogecoin-doge-price-on-a-new-macro-uptrend-50-rally-expected/" rel="noopener noreferrer nofollow">DOGE price</a> gave a massive breakout from $0.206 resistance to hit a 28th-month high of $0.2288. However, with an intraday loss of 2.4%, the coin price is likely to retest the breached resistance and potential support.
Susutiantin breakout should bolster buyers to chase a potential target of $0.27, followed by $0.3.
The broader chart analysis reveals that Dogecoin’s price trajectory is forming a rounding bottom pattern, indicative of a gradual and steady shift from a downtrend to an uptrend, characterized by a U-shaped recovery that suggests long-term sustainability.
<h2 id="b-technical-indicator-b">Technical Indicator</h2>
<ul>
 <li style="font-weight: 400;" aria-level="1">Exponential Moving Average: The 50-day EMA acts as suitable support during market corrections.&nbsp;</li>
 <li style="font-weight: 400;" aria-level="1">Relative Strength Index: The <a href="https://coingape.com/glossary/rsi-relative-strength-index/" rel="noopener noreferrer nofollow">RSI</a> slope stretching above 70% the buyers are aggressive and ready to buy this asset at a premium.</li>
</ul>
The post <a href="https://coingape.com/markets/dogecoin-price-gains-momentum-as-whales-dive-in-is-0-3-next-stop/" rel="noopener noreferrer nofollow">Dogecoin Price Gains Momentum as Whales Dive In, Is $0.3 Next Stop?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Dogecoin Price Gains Momentum as Whales Dive In, Is $0.3 Next Stop?

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