Dogecoin is getting ready to launch:

Historical patterns indicate a 12,000% rise.

DOGE's Next Rally? Historical Data Indicates Potential 12,000% Upside as Activity Rises!!!

Dogecoin

Dogecoin address activity is up 111%, indicating strong interest ahead of a potential massive rally.

Historical patterns suggest that Dogecoin could see a 12,000% surge as whales ramp up trading.

Dogecoin (DOGE) has shown a recurring trend of sharp price increases followed by corrections. In 2017, DOGE rose by 212%, fell by 40%, and then gained 5,000%. Similarly, in 2021, it rose by 476%, corrected by 56%, and later surged by 12,000%.

In 2024, Dogecoin followed a similar path, increasing by 440% from $0.065 to $0.39547 before retracing by 46%.

According to crypto analyst Ali, this pattern suggests the possibility of another major rally if the trend continues as it did in previous cycles.

Source: X

Current price action and critical levels

Dogecoin was trading at $0.3167 at press time, reflecting a 1.43% decline over the past 24 hours and a 21.23% decline in the past week. The cryptocurrency has a market cap of $46.66 billion and a 24-hour trading volume of $4.37 billion.

Price data shows that DOGE is holding a long-term logarithmic price channel. Support levels are located at $0.065 and $0.19-$0.20, while resistance is at $0.39547 and $0.73665, the record high of 2021.

Analysts are expecting a potential upper bound of $17.94 if Dogecoin maintains its historical upward trend within this channel.

Activity on the chain shows growing interest.

Data from IntoTheBlock Binance indicates that network activity is on the rise. As of November 11, there were a total of 136,850 new active addresses created.

Over the past week, new addresses increased by 102.40%, active addresses increased by 111.32%, and zero balance addresses increased by 155.33%.

Source: IntoTheBlock Binance

The growth in address activity coincided with Dogecoin’s recent price move to $0.40. The increased participation indicates a return of interest from both retail and institutional investors.

Large transactions involving Dogecoin have also been on the rise. Over the past week, whale transactions peaked at 9,410, in line with the recent price surge.

This represents a sharp increase from the weekly low of 2,450 trades observed on November 8.

Source: IntoTheBlock Binance

Market data from Coinglass shows trading volume fell 24.83% to $7.42 billion, while open interest (OI) in futures contracts fell 4.71% to $1.95 billion.

Options trading volumes decreased by 58.52% to $427.08 million, with OI in options contracts at $1.18 million.

With historical trends, increased address activity, and large transaction alignment, the data suggests that Dogecoin may be positioning itself for a very significant and significant price movement.

* I published a previous article about Dogecoin after the ominous federal decision and talked about it being the best currency to invest in now and this is the second article. $DOGE