Dogecoin (Doge), the favorite of the breast coin market, has started to attract the interest of investor again. Rising up to $ 0.18 in recent days, Dogge has recently approached a significant breakthrough, although it has experienced a short correction. According to technical analyzes, it is stated that if this level is exceeded, the price may jump up to 157 %. Both over -chain data and whale movements support this rise.

Dogecoin: Countdown has started for 157 %target

After the $ 0.4350 level reached in January, Dogecoin stuck in a multi -month Falling Wedge formation that moved at a decline tendency. This formation is known as one of the technical structures that usually result in upward fractures. Analyst Carl Moon said that Doge is currently at the end of this jam and is on the verge of a major breakdown.

According to Moon, if Dge increases above $ 0.185 at the daily closing, this break will be technically approved. In this scenario, the price of Doge may rise to $ 0.434, the level that Donald Trump started to work in 2021. However, first of all, the support levels must be preserved and the interest of the buyer must continue.

Whales trust in Dge

Dogecoin is currently a strong support area between $ 0.16 and $ 0.17. Crypto Analyst Whalesdesk stressed that the protection of this range is critical for the continuation of the rising trend of Dog. The fact that whale accounts continue to accumulate in this price range shows that this region is a strong purchase point.

WhalesDesk also said that if Dge breaks $ 0.30 and $ 0.45 respectively, the $ 0.60, the summit of the four years, can be targeted. The purchase of whales is usually interpreted as a harbinger of strong price increases in the market. For this reason, the confidence of corporate investors is a very positive signal for Doge.

Dogecoin Network Recommended

Not only the price, but also the basic data in the Dogecoin network indicate a remarkable increase. In recent weeks, there has been a significant increase in the number of active wallets. This shows that the transactions with Doge have increased and that user participation is strengthened.

The rise in the transaction volume clearly reveals that the demand for Dogge has increased. In addition, the developer team makes constant updates to increase the transaction speed on the network and reduce fees. These technical developments have the potential to expand the adoption and use of the token.

Technical and market view positive

Following the new policy statements of the US Federal Bank, the crypto market was generally positively affected. Despite macroeconomic uncertainties, the risk appetite of digital asset investors began to increase again. This creates a positive environment for coins with strong community support like Dogecoin.

According to analysts, a clear purchase signal may occur if Doge increases above $ 0.185 in the coming days. If this break occurs, the price of Dogecoin can leave significant resistances behind and climb to higher levels. Eyes are now at the daily closing of Dge!