Story Highlights
Driven by whale activity and growing retail interest, Dogecoin has surged 155.25% since November 4, with the price of Dogecoin expected to reach $23.
Experts predict that Dogecoin could reach $3.95 to $23.26, driven by historical trends and strong technical signals.
Since November 4, the top meme coin by market cap, Dogecoin, has surged by about 155.25%. Notably, some key technical indicators suggest that the Dogecoin market still has room to grow. Moreover, reports suggest that Dogecoin will soon experience a parabolic bull run. In his latest post on X, cryptocurrency expert Ali explains the current Dogecoin market landscape in depth. Curious? Dig in!
Dogecoin’s Parabolic Bull Run and Whale Activity
Rumor has it that Dogecoin has recently become one of the most favored choices of cryptocurrency whales. In a post on X about Dogecoin whales published on November 15, Ali pointed out that whales bought at least 140 million Dogecoins in just 24 hours. In another post on the retail investment scene of Dogecoin published on November 17, Ali emphasized the growing interest of retail investors in this meme coin.
On May 7, 2021, the Dogecoin price was close to $0.69011. The current price is at least 77.51% lower than the peak in May 2021. In addition, the current MVRV ratio remains around 42.65%. These factors clearly indicate that DOGE has more room to grow.
Key Dogecoin Price Predictions
The cryptocurrency expert has observed a parallel channel pattern on Dogecoin’s weekly chart. The expert shared a Dogecoin price chart on November 12, indicating that a rebound from the lower channel could push Dogecoin price to the middle channel at $2.40 or even to the upper channel at $18.
In a post on November 10, Ali used the Fibonacci retracement indicator to predict that the DOGE market could reach a retracement level between 1.618 and 2.272. Interestingly, the Fibonacci retracement level 1.618 is located at $3.95, while the 2.272 is located at $23.26.
Historical Bull Markets: Insights and Patterns
The cryptocurrency expert highlighted Dogecoin’s huge growth potential in a Nov. 13 post, noting that the Dogecoin market surged by a massive 9,470% during the 2017 bull run and an astonishing 30,700% during the 2021 bull run.
In his latest post, Ali highlighted the possibility of a price correction, describing how the market experienced corrections in 2017 and 2021.
In conclusion, Dogecoin’s price rise is driven by whale activity, historical trends, and market signals, which makes the current Dogecoin price prediction an exciting prospect for investors.
