{"id":126455,"date":"2023-07-24T05:08:36","date_gmt":"2023-07-24T05:08:36","guid":{"rendered":"https:\/\/dripp.zone\/news\/dogecoin-price-on-the-verge-of-massive-breakout-on-chart-crypto-news\/"},"modified":"2023-07-24T05:08:37","modified_gmt":"2023-07-24T05:08:37","slug":"dogecoin-price-on-the-verge-of-massive-breakout-on-chart-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/dogecoin-price-on-the-verge-of-massive-breakout-on-chart-crypto-news\/","title":{"rendered":"Dogecoin Price on the Verge of Massive Breakout on Chart\n – Crypto News"},"content":{"rendered":"

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The world’s largest memecoin Dogecoin (DOGE) has been more or less silent in the altcoin market rally over the past few weeks. However, it seems that Dogecoin is preparing for a strong breakout on the technical chart.<\/p>\n

In we look at the multi-year chart of Dogecoin (DOGE), the DOGE price has been forming a strong descending triangle. Popular crypto analyst Ali Martinez explains that the last time, DOGE formed the descending triangle chart pattern, it rallied by 23,200%. Any sustained close above $0.08 could provide a strong confirmation for the same.<\/p>\n

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#dogecoin<\/a> , The last time a descending triangle developed on the monthly chart $DOGE<\/a> pumped 23,200%!<\/p>\n

I’ll be looking at a sustained monthly close above $0.80 for confirmation. pic.twitter.com\/RVgymwIhtK<\/a><\/p>\n

\u2014 Ali (@ali_charts) July 23, 2023<\/a><\/p>\n

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Of course, past results don’t guarantee future performance. However, this technical breakout would be certainly bullish for Dogecoin (DOGE) investors.<\/p>\n

Dogecoin (DOGE) Whale Activity on the Rise<\/h3>\n

Lately, a lot of crypto investors have been paying attention to Dogecoin (DOGE). According to date<\/a> From the crypto analytics platform IntoTheBlock (ITB), there has been a significant increase in the total amount of DOGE being held by large investors, also known as \u201cwhales,\u201d in the current week.<\/p>\n

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Previously, there were only 770 large transactions involving DOGE as of July 16, but now that number has risen to 1,300. These large transactions are those involving more than $100,000 worth of DOGE.<\/p>\n

As of press time, Dogecoin (DOGE) is trading at $0.071 and faces a tiny resistance at $0.072. Around this price, 8,180 Dogecoin addresses purchased a total of 382.79 million DOGE. The next significant resistance range for Dogecoin is between $0.072 and $0.085, where 40.22 billion DOGE were bought by 599,390 addresses. These levels could potentially act as barriers to prevent further price increases.<\/p>\n

Among its fellow meme coins, DOGE stands out as a positive example. Being the first and largest meme coin, Dogecoin has shown better growth compared to others.<\/p>\n

Another major catalyst for DOGE could be Tesla retaining DOGE payments<\/a>, despite ousting Bitcoin. Furthermore, with the support of Elon Musk and other advocates, Dogecoin’s potential has been gaining more attention and recognition in various areas.<\/p>\n

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explores his culinary skills. <\/p>\n<\/p><\/div>\n

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