Dogecoin (DOGE) is the largest and most popular meme coin by market cap, currently showing signs of reversing recent price declines. Over the past few days, Dogecoin has experienced significant drops, but recent consolidation, continuous accumulation by whales, and a shift in market sentiment may drive potential upward momentum. Can Dogecoin (DOGE) break through $0.36? If the meme coin breaks this pattern and closes above $0.327 with a candlestick in the same timeframe, it is very likely to surge 11% in the near future, reaching $0.36.
However, this speculation is based on a short time frame and may manifest in the coming days.
From the daily chart perspective, DOGE appears to be consolidating in a narrow range below the key support level of $0.36. Based on recent price movements, if DOGE breaks out of this narrow range and closes above $0.36, it is very likely to rise 30% in the coming days, reaching $0.465.
Current Price Momentum
Currently, DOGE is trading close to $0.32, with a price increase of over 2.45% in the past 24 hours. However, during the same period, its trading volume has decreased by 37%, indicating a decline in trader and investor participation due to recent market uncertainty.
Breakout Alert! Dogwifhat (WIF) is expected to rebound 35%
Over the past few weeks, WIF has experienced price declines. As of today (December 28, 2024), WIF has begun to show upward momentum, with its price increase being particularly notable compared to other assets.
Dogwifhat (WIF) Technical Analysis and Upcoming Levels
According to expert technical analysis, WIF has not only broken through the descending price trend pattern but has also successfully re-tested its key support level of $1.80. This latest support level for WIF has appeared for the third time since November 2024.
WIF Price Prediction
According to historical price momentum, whenever the meme coin reaches this level, it experiences buying pressure and significant upward momentum.
This time, experts and analysts expect similar upward momentum in the future. Based on recent price trends, if WIF successfully breaks the descending triangle price pattern and closes above the $1.945 mark, it is very likely to soar 35% to the $2.65 mark.
The bullish argument for WIF will only hold if it successfully breaks and closes above the inclined trend line with a candlestick; otherwise, it may fail.
$16 million worth of WIF outflow
According to on-chain analysis company Coinglass, despite the difficulty in gaining momentum, investors and long-term holders continue to accumulate tokens alongside this bullish price movement.
WIF spot inflow/outflow data shows that exchanges in the cryptocurrency space have witnessed a significant outflow of $16 million worth of WIF meme coins. The term 'outflow' refers to the transfer of assets from exchanges to wallet addresses, which may signal upward momentum and ideal buying opportunities.
Current Price Momentum
As of the time of writing, WIF is trading close to $1.92, with upward momentum exceeding 4% in the past 24 hours. During the same period, its trading volume surged by 15%, indicating increased participation from traders and investors in the recent breakout.
