The price of Dogecoin continued to consolidate this week, since crypto -traders rotate for newer memes, such as official Trump and Fartcoin.
Dogecoin (DOGE), the largest meme in the industry, was traded at 0.36 dollars, which is about 25% lower than the highest point in 2024.
According to Coingecko, Doge recorded a 24-hour volume of more than 3.7 billion dollars. USA compared to official Trump (Trump) $ 11 billion.
However, Dogecoin has several catalysts on the horizon. Firstly, the whales seem to accumulate token. Santiment data show that whales have accumulated 590 million DOGE tokens over the past 24 hours. This adds to millions of coins purchased this year, which suggests that they expect price restoration.
Secondly, the probability of approval by Doge ETF has increased the securities and exchanges. This week REX OSPREY, a company that controls assets worth more than $ 8 billion, was filed to the Dogecoin point fund.
Thirds, the price of Dogecoin will probably benefit from a potential crypto -whocker, since technical data indicate a further increase in bitcoin prices. In addition, Bitcoin -etf see a strong influx when the offer on exchanges falls. Bitcoin will probably cause a greater increase among altcoins, including Doge.
The price of Dogecoin has formed a bull -free sample
The weekly diagram indicates that Doge has been at the consolidation stage over the past few weeks. Currently, he entered the fourth phase of the Ellitt wave template, which usually precedes the bull fifth wave.
Dogecoin also formed a scheme of a bullish pattern, characterized by a vertical line, followed by a symmetrical triangle. Currently, the template is approaching its merger, and a bull breakthrough often follows a splash pattern.
In addition, the accumulation and distribution indicator grows, signaling that investors are actively buying. As a result, the price of the dog will probably rise, and the bulls are aimed at a high maximum of $ 0.7491. The transition to this level will be an increase of 110% compared to the current price.
The warning is that the signals provided by the weekly diagram require time to play. For example, the penalty area was formed for almost three months.
