There are exciting developments for Dogecoin (Doge) investors. In recent days, active DEGE addresses increased by 400 %to 395,000. This great mobility shows that Dogecoin can enter a strong rise trend. Technical analyzes indicate that Doge can rise up to $ 6.
Can Dogecoin reach $ 6?
Technical Analyst Ali Martinez says that Dogecoin stayed on the long -term logarithmic rise channel. If the Doge price continues to hold on top of critical support levels, a strong bull run may start. Since 2015, similar formations have seen major price increases.
The Stoochastic RSI indicator on Diege’s weekly graph gives a rise signal. In the past, this indicator pointed to the beginning of 88 %, 187 %and even 444 %rise. If this formation is repeated, a large rally for the price of Dogecoin may be inevitable.
Dogecoin Network reached record activity
According to centimeter data, the number of active addresses in the Dogecoin network reached 395,000. This shows that investor interest has increased and the demand for Dogge has risen. Large whales also increase the purchases of Dogecoin said.
In addition, there is a significant increase in the transaction volume of Doge. Increased network activity can help Dogecoin break significant resistance levels in the short term. If this momentum is preserved, Dogge can see new peaks.
What are the goals in the short term?
Doge’s most critical level is seen as $ 0.14750. Analyst Marzell says that as long as this level is above this level, the price of Doge may experience a big break. If Doge maintains this support level, the price may rise to the range of $ 0.46 to $ 0.65.
This great mobility in the Dogecoin ecosystem increases the confidence of investors. If Doge exceeds technical levels, we can see a huge rise in the coming weeks for $ 6.
The move of whales in Dogecoin and its impact on the market
Great investors make important moves in the market by increasing their confidence in the future of Dogecoin. According to the latest analyzes, large Digge accumulation began to be seen in whale wallets. Such movements often affect investor sensitivity by causing large price fluctuations.
If whales continue to accumulate dogs, there may be a supply congestion throughout the market. This can support the upward movement of the price of Dogecoin. Whale movements should be closely monitored in the coming days, because the purchases of major investors may cause harsh rise in the price of Dogge.
