The Dogecoin price has experienced a positive trend, with a 25% rally resulting in a new 2024 high after a phase of consolidation. This surge broke a bull flag pattern, drawing attention to the possibility of reaching a new all-time high by year-end.
Dogecoin's recent surge reached an intraday high of $0.4759, suggesting a resumption of upward momentum after temporary resistance at $0.43. Noted analyst Ali Martinez highlighted the significance of this rally, projecting a bullish move towards a target of $0.82, representing a 90% rise from current levels.
Before reaching $0.82, Dogecoin must surpass its previous all-time high of $0.7316. Despite a slight pullback, recent whale activity indicates potential for an upswing, with large holders accumulating 550 million DOGE tokens, worth approximately $214.5 million. This could support a sustained breach above the $0.43 level.
Whale addresses, which hold significant DOGE quantities, are influential in market trends. Their growing activity may provide confidence and support for Dogecoin, suggesting potential for further upward movement.
