Based on the historical market development trends and the recent involvement of whale investors, if Dogecoin (DOGE) can successfully break through the neckline of the ascending triangle pattern and achieve a daily closing price above $0.45, its price may significantly soar by 28% in the coming days, reaching a level of $0.58.
From a positive market performance perspective, Dogecoin's trading price appears to be consistently above the 200 exponential moving average (EMA) on the daily chart, a phenomenon that is often seen as a significant indicator of an upward trend. It is important to note that the 200 EMA is a key technical indicator used by trading and investment communities to determine whether an asset is in an upward or downward trend, aiding them in making more precise and reasonable investment decisions based on changes in the asset's price trends.
Aside from the various factors on the technical analysis front, the participation level of whale investors and numerous traders in the meme coin space also seems quite considerable.
