As whale activity increases and the price approaches crucial resistance levels,$DOGE has been garnering a lot of attention. Market conditions point to the potential for another wave that aims for the eagerly awaited $1 mark following a robust rally that lifted the meme coin above $0.5.
However, some trading volume trends and chart patterns suggest that a possible reversal might also be imminent. Outstanding trading volumes have bolstered DOGE's recent rally, indicating that both institutional and retail investors are very interested in the company. While the #doge⚡ rise above the $0.40 mark indicates bullish momentum, the chart's emerging pattern raises questions about a possible reversal. An important resistance level to keep an eye on is the $0.45 zone as the long upper wicks on recent daily candles indicate selling pressure at higher levels.