Dogecoin

bullish

Bitcoin

<ul class="wp-block-list"> 
 <li>Dogecoin rallies 25% with whale accumulation, reaching multi-year high levels.</li> 
 <li>Key resistance breached; traders anticipate potential 50% upward rally.</li> 
</ul> 
Dogecoin (DOGE), the leading cryptocurrency in the <a href="https://thenewscrypto.com/shiba-inu-burn-rate-soars-over-1300-as-shib-shows-price-recovery/">memecoin</a> sector, has made impressive gains over the past 24 hours, surging by 25% amidst strong market momentum. With <a href="https://thenewscrypto.com/crypto-founder-behind-bars-for-400m-bitcoin-laundering-on-darknet/">Bitcoin</a> climbing above $81,000, investors and analysts are dubbing November “Moonvember” as the market greed index reaches a high of 79. Dogecoin’s trading volume has also seen an exceptional 188% rise, indicating renewed interest from retail investors and major holders, or “whales,” who have been accumulating DOGE rapidly. 
According to data from Santiment, whale wallets holding between 100 million and 1 billion DOGE have collectively boosted their holdings, rising from 2.68 million to over 30.56 million DOGE within a short span. This accumulation pattern has often signaled market bottoms in the past, suggesting that Dogecoin could be poised for further gains.&nbsp; 
Moreover, Dogecoin recently crossed a significant resistance level of $0.223, a threshold it last reached in March 2024, and touched a three-year high of $0.30294. Over the past week, DOGE has climbed an impressive 85%, marking one of its most significant rallies since 2021. 
Additionally, Coinglass reports a 19% surge in DOGE’s Open Interest over the same period, reflecting high market confidence and signaling potential for further upside. 
<h3 class="wp-block-heading" id="h-can-doge-pull-historic-rally">Can DOGE Pull Historic Rally?</h3> 
Technically, Dogecoin is trading above its 200-day Exponential Moving Average (EMA) on the daily chart, a bullish indicator that highlights sustained upward momentum. Analysts suggest that if DOGE successfully closes above the <a href="https://coinmarketcap.com/currencies/dogecoin/">resistance</a> level at $0.289, it could <a href="https://coinmarketcap.com/currencies/dogecoin/">rally</a> an additional 50%, reaching $0.38 in the near term. This, coupled with the current bullish sentiment, positions Dogecoin for a continued rally, provided it holds above this key support level. 
<div class="wp-block-image"> 
 <figure class="aligncenter">
 <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdWB40XiTC6YJDEvFIoSxdsGo3NTEQyjtHok42LgfuXK4CTU6Lufq-anSs33QH1gQ9Rl4HqrpTB1hCSia-XqbKg3M2dX9OfdYtMQk2S_DZVnTGpvW-qF-JBwY7Mcdsc8i6VnTvX-ZnEyl6HDODUNV7qhwtK?key=hZm35EICpz029W5498iNuEK8" alt="">
 <figcaption class="wp-element-caption">
 DOGE Price Chart, Source: Sanbase
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 </figure>
</div> 
As of the latest update, Dogecoin is trading around $0.2782, with 86% of community sentiment in the past day and the daily RSI is at 86, suggesting that it is in an overbought situation. 
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Are DOGE Traders Set to Ride a Prolonged Rally?

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