Whales are going all in on DOGE, accumulating 138 million tokens overnight in a testament to bullish Dogecoin price predictions.
The meme coin has been in free fall over the past week, and the choice to size in and buy the dip now could suggest smart money is betting on a bottom.
Analysis from popular pseudonymous X trader Tartigrade may reveal the deceptively bullish setup they’re betting on.
The October flash-crash caused a wick to retest the $0.109 -0.272 Fib level, and that same level is now in for a retest with the breakdown of long-term support at the $0.15 0 Fib level.
This is a near-identical setup to that which preceded the 2024 bull run, but this time it’s bigger. If history repeats, Dogecoin may have yet to realise its strongest run this cycle.
Glassnode data supports the potential that the bull market may still have room to run, with a shrinking share of circulating DOGE supply now sitting in profit.
The seven-day moving average shows fewer profitable holders than at previous cycle peaks, a pattern typically seen during consolidation or corrective phases.
DOGE circulating supply in profit (7-day average). Source: Glassnode.Dogecoin Price Analysis: Breakout
The setup noted by tartegrade could put a year-long brewing descending triangle pattern back in play, ruling out the breakdown of its lower $0.15 support as false.
DOGE USD 1-day chart, descending triangle pattern. Source: TradingView.A prospect supported by momentum indicators. The RSI has continued to form a bullish divergence throughout the breakdown, a sign of weakening sell pressure not typical of a breakdown.
The MACD death cross below the signal line stands to be short-lived as sellers appear to be losing control of the prevailing trend.
The key breakout threshold sits around historical support at $0.18, with $0.22 acting as interim resistance for a sustained breakout push.
A clean triangle breakout sets up a measured move of roughly 310% to past highs around $0.50, and a fully realised target of $1 for a potoentail 710% gain.
Though such a move likely hinges on supportive market conditions, such a U.S. Fed policy shift ot quantatitative easing (QE) in 2026 to stimulate risk appetite.
Maxi Doge: The Next Bull Run Play?
Every bull run eventually delivers its own parabolic Doge-themed runner. Shiba Inu carried the torch from Dogecoin in 2021, then Floki, Bonk, Dogwifhat, and most recently, Neiro in 2024.
If the biggest bull run of this cycle has not been realised yet, the same could be said about the next Doge, and speculators are increasingly eyeing Maxi Doge ($MAXI) as the next moonshot.
The hype is already showing in the numbers. The $MAXI presale has raised almost $4.35 million, while early backers are earning up to 71% APY through staking rewards.
For those who missed the Doge wave before, Maxi Doge could be the next chance to catch a meme coin breakout before it takes off.
Visit the Official Maxi Doge Website HereThe post Dogecoin Price Prediction: Is a DOGE Price Explosion Coming as Whales Accumulate 138M Coins Overnight appeared first on Cryptonews.
