Large Dogecoin holders have accumulated a staggering 2.07 billion $DOGE in the past week, marking the highest level of accumulation since January 2023.
This renewed interest from major holders signals that history could be repeating itself, with Dogecoin potentially gearing up for another significant rally.
Large Dogecoin holders accumulated 2.07 Billion $DOGE last week, the highest since January of this year! pic.twitter.com/AOpdGHzGTe
— IntoTheBlock (@intotheblock) October 7, 2024
Dogecoin has a well-known pattern: a breakout from a multi-year descending triangle, followed by a 200% surge, then a 60% retracement, and ultimately, a bull run. This sequence has played out time and again, giving investors hope that $DOGE could be on the verge of another explosive move.
History often repeats itself, and #Dogecoin might be doing just that.
A familiar pattern: breakout from a multi-year descending triangle, 200% surge, 60% retracement—then a bull run.
After a recent 65% pullback, $DOGE could be gearing up for the next big rally! pic.twitter.com/c93A4Fec7V
— Ali (@ali_charts) October 6, 2024
After a recent 65% pullback, many believe that Dogecoin is positioning itself for its next big rally. Historically, each time Dogecoin has experienced a logarithmic breakout, it has led to massive gains, and current market conditions seem to suggest that another breakout could be imminent.
Over the years, $DOGE (Dogecoin)’s Log Breakouts (displayed) have ALWAYS led into massive upsides and prices of, have done so again with a break currently holding. pic.twitter.com/mth7Y819NK
— dogegod (@_dogegod_) October 5, 2024
Dogecoin Stands Strong Despite Recent Market Volatility
Despite market fluctuations, $DOGE has shown resilience and a strong ability to recover from downturns. The pattern of large holders accumulating $DOGE is typically seen before a major rally, and with this recent surge in accumulation, it seems that institutional and whale investors are betting on a strong upside in the near future.
As the market watches closely, Dogecoin’s past performance suggests that a significant price surge could be on the way. While nothing is guaranteed in the volatile world of crypto, the signals point to a potential bullish move for Dogecoin as it continues to break through key resistance levels and prepare for its next chapter.
Investors who follow Dogecoin’s historical patterns are likely keeping a close eye on developments, expecting a repeat of the dramatic gains seen in previous cycles. Could this be the start of another Dogecoin rally? Time will tell.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Source: https://nulltx.com/dogecoin-accumulation-hits-record-high-is-another-rally-on-the-horizon/