Dogecoin [DOGE] continues to show strength, like other cryptocurrencies, as traders expect a historic price rally in Q4 since blockchain technology was integrated into the financial markets.

Dogecoin miners, in particular, appear to be playing the market smartly, taking advantage of price spikes to sell their mined coins.

The sell signal is slow to appear, suggesting that miners are holding DOGE for a long time before selling.

This low selling pressure suggests that a price rally may be ahead, as historical trends show that such quiet periods often precede a significant DOGE price rally.

Dogecoin's Long Term Vision

A closer look at Dogecoin’s weekly chart shows that it may be entering a bull phase. This phase, which is cyclical and often repeated in cryptocurrency cycles, lasts around 90 days and can see DOGE reach significant new highs.

The chart shows three consecutive weeks of green candles, supporting the bullish idea of ​​DOGE. If this trend continues, conservative estimates suggest DOGE could reach $0.15 by the end of 2024.

In a more optimistic scenario, if history repeats itself, DOGE could hit $0.50 by March 2025. It could even hit $0.75 by the end of that year.

For long term holders, this could be a favorable entry point, as DOGE price is currently sitting on a strong support level on the larger time frames.

This bullish support further reinforces the idea that the low selling pressure from Dogecoin miners could be the calm before the storm, signaling a possible bull run is imminent.

Balance by holdings looks good for whales

Dogecoin whales, who own over $10 million worth of DOGE, have increased their holdings by 1.25%. This increase in whale activity reinforces the bullish outlook for Dogecoin. It shows that big players are preparing for a potential price surge.

While other DOGE holders have experienced a slight decline, the impact has been negligible. Whales account for the majority of DOGE in circulation, mitigating the weight of these declines on the market.

However, traders should still approach DOGE with caution, ensuring that they have a clear strategy before engaging in trades.

Important liquidation levels and price targets

Another factor driving DOGE’s price increase is the large concentration of liquidations above the $0.11 level.

Some whales have placed around 30.93 billion DOGE in short positions in this area, according to a previous analysis by Us.

These liquidation levels are easily surpassed, DOGE price can move higher as short positions are liquidated.

As DOGE approaches these levels, traders may see increased volatility, but if DOGE can break through, it could trigger a strong rally.

Dogecoin price appears poised to rise as selling pressure remains low and whales continue to accumulate DOGE. With the right timing and strategy, DOGE could be on the verge of a new price breakout, fueled by increased whale activity and favorable market conditions.

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