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Dogecoin (Doge) shows known signs of breakthrough after another consolidation period.
Doge was followed by a well -known pattern – accumulation within the bull flag, followed by a sharp set. This time is no different, because Memecoin now tests the upper limit of his current flag formation.
The recent price of the action has shown consolidation, and the bulls are kept in companies in key support zones. As the edges are reaching closer to the flag resistance, the installation suggests a potential breakthrough.
If history is repeated, the dogs could soon go through a $ 0.30 level.
Source: TraringView
Adding further forces to this bull’s installation is noticeable to increase whale activity. Ambcrypto deep analysis of the cryptoquant data reveals the constant accumulation of large orders at the current price level.
These strategically long positions suggest that the main owners are positioning for progress.
Wick accumulation is often a strong indicator of prices, especially in paired with technical signals like the current flag. Their ability to influence market trends seems to be leaning towards optimism at this stage.
Source: Cryptoquant
The addition of bull projection is a spectacular increase in Dogecoin network activity. At the time of the press, Doge’s active addresses were over 34% only in 24 hours. A rush is a sign of growing participation and new interest from the wider market.
The growth of active addresses usually precedes the movement of prices because it shows growing demand and activity. Paired with the accumulation of the whale and the bull structure of the chart, the potential for a significant breakthrough becomes more convincing.
Although there is no safety in cryptocurrencies, the mouth of technical and linen signals makes a very strong case for the move more.
If Doge manages to transfer the flag resistance to support, the momentum would more than probably increase the prices significantly above $ 0.30.