The post Dogecoin (DOGE) Price Prediction for December 29 appeared first on Coinpedia Fintech News
Dogecoin (DOGE), the largest and most popular meme coin by market cap, is showing signs of reversing its recent price decline. Over the past few days, DOGE has experienced a significant drop, but recent consolidation, continuous accumulation by whales, and a shift in market sentiment might be driving potential upside momentum.
Can Dogecoin (DOGE) Break $0.36? Key Levels to Watch
Amid market uncertainty and ongoing consolidation, DOGE has formed a descending triangle pattern on the four-hour timeframe and is poised for a breakout.
DOGE Price Prediction
According to expert technical analysis, if the meme coin breaches this pattern and closes a candle above the $0.327 mark on the same timeframe, there is a strong possibility it could surge by 11% to reach $0.36 in the near future.
However, this speculation is based on a short timeframe and could appear in the coming days.
On the daily timeframe, DOGE appears to be consolidating within a tight range below the crucial support level of $0.36. Based on recent price action, if DOGE breaks out of this narrow zone and closes a daily candle above the $0.36 mark, there is a strong possibility it could surge by 30% to reach $0.465 in the coming days.
Whales Accumulate 90 Million DOGE
Amid this ongoing consolidation, whales have demonstrated strong interest and confidence in the meme coin.
According to a prominent crypto expert’s post on X (formerly Twitter), whales have purchased a significant 90 million DOGE tokens. This substantial accumulation by whales has the potential to create buying pressure and drive further upside momentum.
Current Price Momentum
Currently, DOGE is trading near $0.32, having experienced a price rally of over 2.45% in the past 24 hours. However, during the same period, its trading volume dropped by 37%, indicating reduced participation from traders and investors due to recent market uncertainty.