Judging from the historical market development trend and the recent participation of whale investors, if Dogecoin (DOGE) can successfully break through the neckline of the ascending triangle shape and achieve a daily closing price higher than $0.45, then its price will rise in the next few days. The price is likely to surge by 28%, climbing to a price of $0.58.
Looking at the positive market performance, Dogecoin appears to be trading steadily above the 200 exponential moving average (EMA) on the daily chart, a phenomenon that is often seen as a telling sign of an uptrend. You must know that 200 EMA is a key technical indicator used by trading groups and investment groups to determine whether an asset is in an upward trend or a downward trend. It can help them make more accurate and reasonable investment decisions based on changes in asset price trends.
Apart from many factors at the technical analysis level, the participation of whale investors and many traders in the meme currency field seems to be considerable.
