Story Highlights
Driven by whale activity and growing retail interest, Dogecoin has surged 155.25% since November 4, with expectations that its price will reach $23.
Experts predict that driven by historical trends and strong technical signals, Dogecoin could reach between $3.95 and $23.26.
Since November 4, the market's highest value meme coin, Dogecoin, has surged about 155.25%. Notably, some key technical indicators suggest there is still room for growth in the Dogecoin market. Additionally, reports indicate that Dogecoin will soon experience a parabolic bull market. In his latest post on X, cryptocurrency expert Ali delved into the current Dogecoin market landscape. Curious? Dive in!
Dogecoin's Parabolic Bull Market and Whale Activity
Rumors have it that Dogecoin has recently become one of the favorite choices among cryptocurrency whales. In a post about Dogecoin whales published by Ali on November 15 on X, he noted that whales purchased at least 140 million Dogecoins within just 24 hours. In another post published on November 17 about the retail investment landscape of Dogecoin, Ali emphasized the growing interest of retail investors in this meme coin.
On May 7, 2021, Dogecoin's price approached $0.69011. The current price is at least 77.51% lower than the peak in May 2021. Additionally, the current MVRV ratio remains around 42.65%. These factors clearly indicate that DOGE still has greater growth potential.
Key Price Predictions for Dogecoin
Experts in the cryptocurrency field have identified a parallel channel pattern on Dogecoin (DOGE) weekly chart. This expert shared the price chart of DOGE on November 12, revealing that a rebound from the lower channel could drive Dogecoin’s price up to $2.40 in the middle channel, potentially reaching $18 in the upper channel.
Earlier on November 10, analyst Ali used the Fibonacci retracement indicator to forecast that the DOGE market might reach the price levels corresponding to the 1.618 and 2.272 retracement levels. Notably, the price level corresponding to the Fibonacci retracement level of 1.618 is $3.95, while 2.272 corresponds to a high of $23.26.
Insights and Patterns in Historical Bull Markets
In an update on November 13, the cryptocurrency expert further emphasized Dogecoin's growth potential, pointing out that Dogecoin achieved an astonishing increase of 9,470% during the bull market in 2017, and soared by 30,700% in the bull market of 2021.
In his latest analysis, Ali mentioned the possibility of price adjustments and reviewed the adjustment phases the market experienced in 2017 and 2021.
In summary, the price increase of Dogecoin is driven by the activities of large investors (whales), historical trends, and market signals. These factors together create an exciting outlook for current Dogecoin price predictions, providing investors with ample room for imagination.
Here comes the highlight:
Next, I will guide the fans to lay out several coins that are expected to rise by more than 60%.
Stop being a headless fly running around; keep up with my pace and let’s rise together.
Stay tuned: doge sui x cow mask……
#Solana涨势分析 #BONKBURNmas销毁计划
