3 hours ago
7
TLDR
- DOGE trades at $0.07030, down 1.07% over the past 24 hours.
- Analyst JAVON MARKS points to a Fibonacci extension pattern that could target $2.82.
- Whale tracker dogegod reports 900 million DOGE, worth $63 million, moved in one day.
- The reason behind the whale transfer remains unknown.
- DOGE’s next move depends on buying pressure and broader altcoin market strength.
Dogecoin is drawing fresh attention from traders this week. Analysts are pointing to old chart patterns while on-chain trackers spot large coin movements.
At the time of writing, DOGE trades at $0.07030. The coin has a 24-hour trading volume of $575.8 million and a market cap of $12.02 billion.
DOGE is down 1.07% over the past day. Even with the drop, some traders think the chart structure and whale buying could signal a turnaround.
Dogecoin Price on CoinGeckoAnalyst Points to Fibonacci Breakout Target
Crypto analyst JAVON MARKS shared a chart on X comparing DOGE’s current setup to past altcoin cycles. He noted that DOGE has a history of breaking above the 1.618 Fibonacci extension level during bull runs.
Based on that pattern, Marks suggests DOGE could be gearing up for another breakout. He pointed to a possible target price of $2.82.
That target would mean a rise of roughly 3,800% from current price levels. This remains a long-term scenario tied to broader market conditions.
Marks noted that stronger sentiment, better liquidity, and a rising altcoin trend would all need to line up. Without those pieces in place, the target stays theoretical.
Whales Move 900 Million DOGE in One Day
Separately, on-chain tracker dogegod posted data on X showing a large wave of DOGE activity. Whales moved 900 million DOGE in a single day.
The transfer was worth close to $63 million at current prices. It caught the attention of traders who watch wallet activity for early signs of market moves.
The exact reason for the transfer has not been confirmed. Large movements like this are often tied to accumulation, portfolio changes, or preparation for future trades.
A single transfer does not confirm where price is headed next. It does tend to draw more eyes to the coin and can add to short-term price swings.
Despite the whale activity and the bullish chart talk, DOGE price is still trending lower right now. Bitcoin has also slipped into negative territory, which is weighing on sentiment across altcoins.
Traders say DOGE’s next move will come down to buying volume and market-wide momentum. Confirmation from technical indicators is also something people are watching closely.
On-chain data will likely stay in focus as traders look for signs that the whale moves point to more buying ahead. For now, DOGE sits at $0.07030, down 1.07% on the day, with a market cap of $12.02 billion.
The post Dogecoin (DOGE) Price: Whales Move 900 Million Coins Worth $63 Million appeared first on Blockonomi.
English (US) ·