- Dogecoin Price recorded a strong correlation with Bitcoin, which should undergo an upward acceleration in May.
- The data on the chain show that the Dogecoin whales have accumulated aggressively in the past few weeks.
The recent Bitcoin gathering (BTC) above $ 103,000 sparked the re-emergence of FOMO traders, in particular in the same space led by Dogecoin (DOGE). According to the latest market data at the time of writing, the total cryptography market capitalization jumped 24% in the last 24 hours to oscillate around $ 70 billion.
The deep memecoin-liquidity in addition to the robust infrastructure DEFI and CEFI established in recent years has played a major role in the integration of more speculative traders.
Dogecoin Network Records favoring the fundamentals
DOGECOIN is a veteran’s same project guaranteed by the legendary work evidence method, which is similar to that of Bitcoin. Consequently, the Dogecoin network has attracted more institutional investors seeking to diversify their cryptographic portfolios.
In addition, the Dogecoin network has received unwavering support from the Tech Elon Musk billionaire and its unicorns family. In addition, the American sec should approve several Dogecoin ETFs before the end of this year.
As Coinpedia has recently reported, the analysis of data on the chain shows that whale investors have increased their appetite for Dogecoin in a recent past.
Short -term crucial objectives for the price of Doges
From the point of view of technical analysis, it is obvious that the price of Dogecoin has established an upward trend in the last two years. After having successfully rebounded from the single 200 -week mobile average (SMA), the Dogecoin price rallied more than 12% in last week to exchange the 50 week SMA.
Consequently, if the price of Doge systematically firm above 21 cents in the coming days, a gathering around 26 cents and 45 cents will be inevitable in the short term. In addition, the same capitalization, with an entirely diluted assessment of approximately $ 30.5 billion, had already released a correction and retest for confirmation.
