Dogecoin Price Outlook: 1,645% Whale Move Surge, $1 Incoming?
Dogecoin has increased 2% in 24 hours to $0.1131 while the crypto market advances 1% today.
Last week, DOGE rose 1.5%, 7%, and 92% in the last year.
The meme token's big holders netflow measure increased 1,645% today, indicating a spike in whale trading.
Whales are finally buying Dogecoin at a bargain, which might lead to large gains for the alt.
Dogecoin Price Outlook: 1,645% Whale Move Surge, $1 Incoming?
Dogecoin is showing signs of recovery after two weeks of slump. Its signs show the currency may increase before oversold.
DOGE's relative strength index (purple) rose from 40 yesterday to well over 60 today, indicating room for further growth.
Whales, who drive meme token bullishness for better or worse, are behind this increased bullishness.
To purchase Dogecoin cheaply, they must take advantage of its weakness.
According to IntoTheBlock, the coin's Large Holders Netflix statistic climbed from 22.35 million DOGE yesterday to 367 million today.
This is the Dogecoin price's highest level since early September, predicting a robust conclusion to October following a sharp decline at the start.
Given that DOGE is still 84% below its May 2021 ATH, a substantial comeback is needed.
Additionally, its active addresses count has been climbing for the last month, supporting the whale evidence indicating meme currency interest is rising.
If the Fed announces another one or two rate cuts before the end of the year, as many analysts believe, bullishness will grow.
Dogecoin might reach $0.15 by November and $0.20 by year's end.
