Dogecoin Price Analysis: Long-Term Support Zone Holds Strong Amid Whale Accumulation
The price of Dogecoin (DOGE) has been trading near a major long-term support zone that previously led to significant rallies. Analyst MikybullCrypto highlighted a potential 10x upside scenario if the current structure repeats historical patterns.
According to the analyst, DOGE is currently forming an ascending broadening wedge on the three-month chart, which can signal expanding volatility when price approaches key resistance levels. This pattern develops over longer periods and can indicate a significant move if buyers confirm a breakout above the descending trendline.
The current support zone at $0.073 has been holding strong, with some analysts noting that DOGE needs to recover around $0.08 to show renewed strength. The accumulation of 200 million DOGE by whales worth approximately $14 million suggests larger holders are watching current levels closely.