Dogecoin (DOGE) Price Speculation: Analysis of Trends on December 29 🐕📈

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Recently, Dogecoin (DOGE), as a popular meme coin in the cryptocurrency market, has experienced some declines, but its recent price performance seems to show signs of a rebound. Especially with the buying actions of large whales and the gradual improvement in market sentiment, it seems to indicate that Dogecoin may be on the verge of a price increase. Let’s dive into the current market situation and future potential.

1. Key Price Level: Can a Breakthrough at $0.36 be Achieved?

Dogecoin's current price volatility is relatively small, consolidating around the key point of $0.36. Analysts point out that if Dogecoin can break the current trend pattern and close above $0.327 on the four-hour chart, it may see an **11%** increase, breaking through $0.36, and potentially attacking upwards to above $0.36.

2. Important Support and Resistance on the Daily Chart:

From the daily chart perspective, Dogecoin's current price is in a small range of fluctuations below $0.36, as if it is gathering strength for a breakthrough. If it can break this small range and successfully close above $0.36, then in the coming days, Dogecoin’s price may experience a 30% increase, with a target price potentially reaching $0.465.

3. Continued Buying by Large Whales:

Another noteworthy factor is that large whales seem to still have a fondness for Dogecoin. It is said that recently whales have purchased about 90 million DOGE. Such a large influx of funds could create strong buying power in the market, driving the DOGE price further upwards. The “hoarding” behavior of whales typically triggers a strong market reaction, further increasing the likelihood of price increases.

4. Decrease in Trading Volume:

However, it’s important to note that despite the recent positive signals, Dogecoin's 24-hour trading volume has decreased by 37%. This indicates that, although whales are buying, the overall market sentiment remains cautious, and investors may still be observing. The uncertainty in the market makes short-term price fluctuations carry significant risks.

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