Dogecoin Rekindles 2,852% Surge to $6 With Fuel from Incessant Whale Accumulation
Dogecoin has defied earlier bearish momentum to resume price take-off, with bullish whale activities contributing to the upward trajectory.The meme coin alpha has taken off after a period of clumsy price action. For context, DOGE retraced 70% from its December high of $0.4846 to a low of $0.1432 but has rallied 42% from the dip to its current market price.Interestingly, analyst Kamran Asghar believes the bullish recovery places Dogecoin back on course for its cyclical price explosion to unprecedented prices. He noted in a March 25 post that the blast-off has begun.Dogecoin Take-Off?Dogecoin has resumed an upward trajectory following its hold above the crucial level at $0.16, as identified by prominent analyst, Ali Marinez. The market watcher predicted that the meme coin market leader would see higher prices if the demand zone held.Further, Asghar suggested that the recent bounce aligns with the assets cyclical price bullishness, which kickstarted after a successful retest in August 2024. For perspective, Dogecoin broke from a three-year-old descending triangle in February but pulled back to retest the structures resistance trendline.With a successful retest, the asset set out for higher prices, surging to Decembers high before the latest decline. Nonetheless, the analyst highlighted that DOGE has more upsides from here, drawing inspiration from the tokens performance in the previous cycle.An accompanying chart shows similar price action in the past two bull seasons, where Dogecoin surged over 20,566% and 44,471%. Asghar predicts that based on previous cyclical performances, DOGEs recent form rediscovery will spur a staggering 2,852% rally to $6.
Text source: The Crypto Basic
