Dogecoin (DOGE) Price Prediction for December 29
Dogecoin (DOGE), the largest and most popular meme coin by market cap, is showing signs of reversing its recent price decline. DOGE has experienced significant losses over the past few days, but recent consolidation, continued accumulation by whales, and a shift in market sentiment may be fueling potential upward momentum.
Can Dogecoin (DOGE) break above $0.36? Key levels to watch
Amid market uncertainty and continued consolidation, dog A descending triangle pattern has formed on the four-hour time frame and is poised for a breakout.
DOGE price prediction
According to expert technical analysis, if the meme coin breaks out of this pattern and closes a candle above the $0.327 mark on the same time frame, then it has a high chance of surging by 11% to $0.36 in the near future.
However, this speculation is based on a very short time frame and could occur within the next few days.
Looking at the daily chart, DOGE appears to be consolidating in a tight range below key support at $0.36. Based on recent price action, if DOGE breaks out of this tight area and closes above the $0.36 mark, there is a good chance it could surge 30% to $0.465 in the coming days.
Whales accumulated 90 million DOGE
Amid this ongoing consolidation, whales are showing strong interest and confidence in meme coins.
According to a post on X (formerly Twitter) by a well-known cryptocurrency expert, whales have purchased 90 million DOGE tokens. A large accumulation of whales has the potential to create buying pressure and drive further upward momentum.
Current Price Momentum
Currently, DOGE is trading close to $0.32, with the price rising by more than 2.45% in the past 24 hours. However, its trading volume fell by 37% during the same period, indicating reduced participation from traders and investors due to recent market uncertainty.
