Can DOGE Price Reach $0.5 By Christmas? Here’s What To Expect

Dogecoin’s price could surge to $0.5 by Christmas as whales bought 210 million DOGE during a recent price dip.

With both retail and institutional sentiment turning bullish and technical indicators showing a promising crossover, DOGE seems primed for growth.

Dogecoin Whales Make a Massive Move, Buying 210 Million DOGE During Price Dip

A big Dogecoin whale movement took place as whale wallets scooped up 210 million DOGE during a recent price correction.

This is a great buy by major investors because they grabbed more tokens on the dip. Dogecoin’s price bounced off its lows sharply following the purchase, and it serves as proof that whale activity can impact the short-term market movement.

After the whale purchases, the market saw a clear pattern. Doge price skyrocketed as huge buyers moved the market.

Moves like these in the past have usually led to short-term price surges, as is the case with Dogecoin in recent times.

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The effect is immediate, but these are very large buys and may be part of a longer-term plan. It is common in the crypto world for whales to hoard as markets plunge and prepare for future profits.

If other whales continue to move this way, we could see another price rise if the market moves into a bullish trend.

Bullish Sentiment for Dogecoin: Crowd and Smart Money Aligned

Dogecoin has had enormous popularity, with retail investors and institutional players both bullish on the token.

The sentiment data suggests retail investors are slightly bullish at 0.37, and institutional investors, or Smart Money, are even more bullish at 0.29.

It appears that Dogecoin has good backing from the crowds of investors.

The data on sentiments shows Dogecoin’s price increasing confidence. Both groups suggested that the cryptocurrency’s future seems positive.

These sentiment trends are the things investors are pilling up to closely, as often correlated with the crypto price movement.

The bullish stance of retail and institutional investors could see Doge price record upward momentum.

Convergence on sentiment indicates that the near-term Dogecoin could continue to rise. For those of you wanting to capitalize on the trend of these indicators, it could lead to future price actions.

Doge Price Shows Bullish Signs as MACD Signals Crossover and Price Rebound

Dogecoin has a key technical signal per Trader Tardigrade’s, the MACD indicator, which has made a bullish crossover, an oft-cited bullish sign.

As shown, Dogecoin is clearly grabbing additional buying power too, after its bullish crossover on the MACD happened when the MACD line crossed above the signal line. It shows that the momentum is going in favor of the buyers, and a price rally can be seen.

Dogecoin’s series of higher lows that create a positive outlook is also supported by the price structure.

This is an expected price action, which, according to a healthy rebound ongoing, means the pullback in price has likely been completed.

The strong consensus across bulls and higher lows indicates that the Dogecoin is now in a stage to take off to the upside from a more solid support.

Having said that, bullish momentum as indicated by the price structure and the MACD indicator indicating bullish momentum, Dogecoin line-ups for bullish action in the short term.

Given the steep declines that the market has already absorbed, the trend indicators now point to a bull run and therefore stand a good chance of making a big move to $0.5 which is 20% away from current price levels.