Dogecoin Poised for a 30% Surge if it Breaks Key Resistance Level, Analyst Predicts

Dogecoin has seen a 30% rise since early September, with analysts predicting another rally if the price conquers the $0.11 resistance level. Whale accumulation and a lack of supply walls further fuel bullish momentum.

Dogecoin (DOGE) has been on an impressive upward trajectory, gaining around 30% since September 7. As of today, the meme coin sits at $0.114, having surged past key levels following a market-wide downturn earlier this month. Popular cryptocurrency analyst Ali has indicated that DOGE’s rally may be far from over if it can decisively conquer the $0.11 resistance level.

Ali’s data shows that over 62,000 wallets hold more than 36 billion DOGE at this critical price point, making $0.111 a significant psychological barrier. Should holders retain their positions rather than take profits, Dogecoin could be set for another price surge.

“There are no major supply walls in sight,” Ali noted, suggesting that DOGE could rally towards $0.15, which would represent a 30% increase from its current levels. This would be a continuation of Dogecoin’s recent bullish momentum, driven largely by increased whale activity.

Whales Power Dogecoin’s Rally

One of the major catalysts behind DOGE’s recent surge has been whale accumulation. Data shows that large investors have accumulated approximately $140 million worth of Dogecoin in just two days, a sign of growing confidence among high-value traders.

Whale involvement in Dogecoin has historically triggered sharp price movements, and this recent surge in whale activity could push the meme coin to new heights. As the broader cryptocurrency market continues to recover, DOGE is one of the key assets attracting attention.

Dogecoin’s Price Outlook

While Dogecoin has already seen a substantial recovery, analysts caution that it must maintain its current momentum to break through the $0.11 resistance and target $0.15. The next few weeks will be crucial for determining whether the largest meme coin can continue its upward trend.

For now, with whale support and limited supply barriers, Dogecoin appears to have a strong chance of achieving further gains.

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