Dogecoin (DOGE) Price Prediction for November 30
Dogecoin (DOGE), the world’s largest and most popular meme coin, is poised to continue its upward momentum after two weeks of consolidation. DOGE’s positive outlook could be due to bullish price action and Donald Trump’s victory in the U.S. presidential election.
Dogecoin (DOGE) Technical Analysis and Upcoming Levels
After the election results are announced, dog It has soared over 150%. However, from November 12 to November 30, 2024, it has been in a small consolidation area between $0.353 and $0.428.
Amid ongoing consolidation in DOGE, expert technical analysis suggests that the Meme coin has formed a bullish ascending triangle pattern on the daily chart and is on the verge of a breakout. However, DOGE is currently trading at levels where it has historically faced selling pressure and downward momentum.
Dogecoin (DOGE) Price Prediction
Based on recent price action and historical momentum, if DOGE breaks this barrier and closes above $0.45 levels, there is a good chance it could surge 30% to $0.57 levels in the coming days.
Bullish on-chain indicators
On the positive side, meme coins are attracting strong interest from traders and investors, reports on-chain analytics firm coin glass. DOGE’s open interest (OI) surged 17% in the past 24 hours and increased 11% in the past 4 hours. This growing open interest demonstrates traders’ strong belief and confidence in the meme coin, leading to an increase in new open positions.
According to on-chain analytics company IntoTheBlock, in addition to strong participation from traders, whales and institutions have also shown interest in meme coins. The data shows that whale large transaction volume increased by 41.15%, indicating that the activity of long-term holders has increased.
The combination of these bullish on-chain indicators and technical analysis points to potential upward momentum in the coming days, providing an ideal buying opportunity.
Current Price Momentum
At press time, DOGE was trading close to $0.43, gaining more than 8.15% in the past 24 hours. During the same period, its trading volume increased by 5.5%, indicating increased participation from traders and investors amid the bullish outlook.
