The active accumulation of Dogecoin by whales has attracted analysts' attention, indicating a possible price increase. The rising interest from institutional investors lays the groundwork for a promising bullish trend.
Whale Accumulation Grows
Over the past week, major holders of Dogecoin have accumulated between 680 million and 2 billion DOGE. This now accounts for almost 18% of the circulating supply. This heavy accumulation has created a strong support level at $0.21, despite concerns regarding potential attacks.
Technical Analysis of Dogecoin
Technical indicators are showing promising signs. The formation of a golden cross (the 50-day MA above the 200-day MA) and a double-bottom pattern is emerging around $0.21 and $0.22. If the resistance level in the $0.30-$0.50 range is decisively broken, further upside may follow.
Future of Dogecoin and MAGACOIN FINANCE
While attention focuses on Dogecoin, experts are also highlighting MAGACOIN FINANCE as a promising alternative token. MAGACOIN boasts a capped supply and rising retail interest, making it an attractive prospect in the meme cycle.
The rising accumulation by whales and technical indicators create conditions for Dogecoin's growth. Many experts predict that DOGE may reach a price level of $1 in the future, making it an attractive investment option.
