Dogecoin (DOGE) is the largest and most popular meme coin by market capitalization, and is currently showing signs of reversing its recent price decline. Over the past few days, Dogecoin has experienced a significant drop, but recent consolidation, continued accumulation by whales, and a shift in market sentiment may drive potential upward momentum. Can Dogecoin (DOGE) break above $0.36? If the meme coin breaks this pattern and closes above $0.327 on a candlestick chart within the same timeframe, it is likely to surge 11% soon, reaching $0.36.
However, this speculation is based on a short time frame and may materialize in the coming days.
From the daily chart, DOGE seems to be consolidating within a narrow range below the key support level of $0.36. Based on recent price trends, if DOGE breaks this narrow range and closes above $0.36, it is likely to rise by 30% in the coming days, reaching $0.465.
Current Price Momentum
Currently, DOGE is trading at approximately $0.32, with a price increase of over 2.45% in the past 24 hours. However, during the same period, its trading volume has decreased by 37%, indicating a decline in trader and investor participation due to recent market uncertainties.
Breakout Alert! Dogwifhat (WIF) is expected to rebound by 35%
In recent weeks, WIF has experienced a price decline. As of today (December 28, 2024), WIF has begun to show upward momentum, with its price rising significantly compared to other assets.
Dogwifhat (WIF) Technical Analysis and Upcoming Levels
According to expert technical analysis, WIF not only broke the descending price trend pattern but also successfully retested its key support level of $1.80. This latest support level for WIF has appeared for the third time since November 2024.
WIF Price Prediction
According to historical price momentum, whenever meme coins reach this level, they experience buying pressure and significant upward momentum.
This time, experts and analysts expect similar upward momentum in the future. According to recent price trends, if WIF successfully breaks the descending triangle price trend pattern and closes above the $1.945 mark, it is likely to soar by 35% to the $2.65 mark.
The bullish argument for WIF will only hold if it successfully breaks and closes above the sloping trend line on the candlestick; otherwise, it may fail.
WIF outflow of $16 million
According to on-chain analytics firm Coinglass, despite this bullish price trend, investors and long-term holders are continuously accumulating tokens, even though prices struggle to gain momentum.
WIF spot inflow/outflow data indicates that exchanges in the cryptocurrency space have witnessed a substantial outflow of $16 million worth of WIF meme coins. The term 'outflow' refers to assets moving from exchanges to wallet addresses, which may signal upward momentum and ideal buying opportunities.
Current Price Momentum
As of the time of writing, WIF is trading close to $1.92, with a price momentum increase of over 4% in the past 24 hours. During the same period, its trading volume surged by 15%, indicating an increase in trader and investor participation following the recent breakout.
