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

Ekta Mourya Ekta Mourya

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.

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

Picture 2 (zoomed out): Looks pretty damn early to me.
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.
@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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Dogecoin and Shiba Inu see their prices suddenly capitulate, after yielding double-digit profits to holders over the weekend. The fall appears to be linked to mass profit taking ahead of the recent dip. 
Cardano price has seen three consecutive down candlesticks denoting an aggressive seller-dominated regime. This massive sell-off seems to originate from the influential lead crypto Bitcoin and is affecting many altcoins. 
Solana (SOL) price action is getting hammered in the ASIA PAC session as support breaks down as a result of inflated tail risks leading to traders reassessing their positions. Coins (CRO) price is under siege from geopolitical tensions that have been put back on high alert after a Bloomberg interview with the Indonesian president.
A period of controlled selling has kick-started and is currently approaching short-term support levels. A minor relief rally might occur – before the next leg down to inefficiencies and liquidity. The current down move has broken significant levels that could trigger a massive sell-off in the future. 
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