Dogecoin price on verge of explosion, ranks among cryptocurrencies accumulated by whales




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Ekta Mourya Ekta Mourya
FXStreet

Dogecoin is back on the list of popular cryptocurrencies owned by top 1000 whales on Binance Smart Chain. In an overnight recovery, the memecoin has posted over 11% gains in the past 24 hours. 
Dogecoin price dropped over 75% from its all-time high of May 2021. Despite a consistent drop in price, the memecoin has witnessed a spike in on-chain activity. Proponents noted a spike in Dogecoin transaction activity by large wallet investors. 
The memecoin is back on the list of the top cryptocurrencies owned by whales on the Binance Smart Chain. Large wallet investors on the BSC network hold Dogecoin among other top cryptocurrencies in their portfolio. 
The transaction activity on the Dogecoin network increased alongside a spike in the memecoin’s price. 
@CryptoKaleo, a crypto analyst and trader, evaluated the Dogecoin price trend and predicted an early uptrend.
$DOGE

Picture 1 (zoomed in): “Wow, looks overbought, going parabolic. Not gonna touch it.”

Picture 2 (zoomed out): Looks pretty damn early to me. pic.twitter.com/MRUgWeReym
The analyst believes that the next resistance would be at 24 cents. 
*Assuming* $DOGE doesn’t retrace here and this isn’t just some sick twisted fake, next point of resistance will probably be HTF log diagonal, around 24 cents. pic.twitter.com/olidZrzaAd
@JustinBennetFX, a crypto analyst and trader, predicted on January 6, 2022, that it was make or break time for Dogecoin. Over the past week, Dogecoin price posted 6% gains, breaking into an explosive rally earlier today. 
FXStreet analysts are bearish on memecoin. Analysts have predicted that Dogecoin price could form a dead-cat bounce before a fatal crash to $0.09. 
 

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Bitcoin price has noticed a large shift in sentiment from being overly bearish to optimistic. Although greed is still out of the equation, things could soon reach these levels, especially if the trend continues as it has over the last ten days.
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