DOGE Whales Fuel Price Spike: Key Levels to Watch After $0.30 Rally
For the first time since early February, Dogecoin (DOGE) momentarily reached $0.30 before swiftly declining to the $0.275 region. This ignites new discussion over its future course. The increase was driven by a spike in purchasing activity, notably the approximately 2 billion DOGE that whales amassed in a single week. Dogecoin’s technical setup is still favorable despite the decline, and traders are keeping an eye on important levels that may influence short- and medium-term price movement.
Rising Wedge Signals Potential Surge to $0.47–$0.75
DOGE is sustaining higher highs and higher lows while trading inside a rising wedge pattern right now. Once a zone of opposition, the $0.28 level is now a zone of support. This suggests that the market will continue to rise.
- RSI: With a hovering value close to 60, it indicates consistent momentum without entering the overbought area.
- CMF (Chaikin Money Flow): Consistent capital inflows supporting the rally are indicated by positive data.
- Immediate support: In the sand, $0.28 is still the line. Maintaining above it makes the case for more growth stronger.
- Upside targets: The next checkpoints are $0.35 and $0.40, and if the wedge pattern holds, the medium-term potential might reach $0.47 and possibly $0.75.
Conversely, dropping $0.28 on high volume would signal a more significant correction, with the next support levels being $0.245 and the $0.21–$0.205 range.
Institutional Moves and ETF Buzz Could Spark Next Rally
Sentiment factors like corporate accumulation and ETF talk are receiving more attention than technicals. They might be the impetus needed to propel DOGE past its present resistance zones if widespread adoption narratives keep growing. To determine whether Dogecoin consolidates or sparks a fresh leg upward, traders and long-term investors should keep a close eye on institutional headlines and on-chain whale behavior.
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