Dogecoin Sees Big Moves as Analyst Projects 6,770% Rise
Dogecoin, a dog-themed meme coin, is witnessing massive activity as the new year begins. In the past 24 hours, whales have purchased over 300 million Dogecoin, according to a report by Ali Martinez. At the same time, blockchain data tracker Whale Alert reported that 350,000,000 DOGE worth $109,962,192 was transferred from an unknown wallet to another unknown wallet.
While the purpose of the move remains unknown, this move signals whale activity, which could influence the altcoin's price in the coming weeks. Data from CoinMarketCap shows that the price of Dogecoin fell 22% in the 30-day period, pushing the price of Dogecoin towards the $0.30 support zone.
In a bold Dogecoin price prediction, Ali Charts predicts that the meme coin's price will soar 6,770% in the coming months if it continues to follow the ascending parallel channel pattern. However, technical indicators point to further pullback. With the market rising in advance, the dip presents the best opportunity to accumulate the meme coin.#CryptoReboundStrategy
