However, this is no longer the case because these key stakeholders have resumed purchases. Here's what this may have on the future value of Dogecoin.

According to Santiment, the balance of addresses holding 1 to 10 million DOGE fell to 103. 900 million on November 23, but has since risen to 105. 900 million.

This suggests that Dogecoin Whale took advantage of the weekend's decline, accumulating around 200 million units. At the current price of $0. 42, this is worth $84 million. This accumulation of whales generally indicates a reduction in selling pressure.

Thus, the surge in buying activity suggests that the price of Dogecoin could exceed the current $0. $42. If this is the case, then the prediction that Dogecoin could reach $1 could come true.

In addition, the average direction index (ADX) has been steadily climbing. ADX is a technical analysis tool that helps traders assess the strength of a trend, whether bullish or bearish.

When A, however, this is no longer the case because these key stakeholders have resumed purchases. Here's what this may have on the future value of Dogecoin.

According to Santiment, the balance of addresses holding 1 to 10 million DOGE fell to 103. 900 million on November 23, but has since risen to 105. 900 million.

This suggests that Dogecoin Whale took advantage of the weekend's decline, accumulating around 200 million units. At the current price of $0. 42, this is worth $84 million. This accumulation of whales generally indicates a reduction in selling pressure.

Thus, the surge in buying activity suggests that the price of Dogecoin could exceed the current $0. $42. If this is the case, then the prediction that Dogecoin could reach $1 could come true.

In addition, the average direction index (ADX) has been steadily climbing. ADX is a technical analysis tool that helps traders assess the strength of a trend, whether bullish or bearish.

When ADX exceeds 25, it indicates strong directional kinetic energy. Instead, a reading below 25 indicates weakness. On the daily chart of Dogecoin, ADX has soared to 68. 00, indicating a clear upward trend. As the token goes higher, this suggests that the price of Dogecoin may continue to rise.

A closer look at the daily chart shows that the price of Dogecoin has encountered resistance at $0. $43. The drop is one of the reasons why the cryptocurrency failed to rebound to $0. $50. It is worth mentioning that the decline in trading volume makes the upward trend difficult to sustain.

Meanwhile, the bulls appear to be defending the $0. 36 zone. If it continues, then the value of DOGE could climb to $0. 48. In a highly bullish scenario, the meme currency may rebound to the $1 mark. However, DOGE whales may not happen if they decide to sell. Instead, the token could go down to $0. 32.

DX over 25, indicating a strong directional kinetic energy. Instead, a reading below 25 indicates weakness. On the daily chart of Dogecoin, ADX has soared to 68. 00, indicating a clear upward trend. As the token goes higher, this suggests that the price of Dogecoin may continue to rise.

A closer look at the daily chart shows that the price of Dogecoin has encountered resistance at $0. $43. The drop is one of the reasons why the cryptocurrency failed to rebound to $0.  $50. It is worth mentioning that the decline in trading volume makes the upward trend difficult to sustain.

Meanwhile, the bulls appear to be defending the $0. 36 zone. If it continues, then the value of DOGE could climb to $0. 48. In a highly bullish scenario, the meme currency may rebound to the $1 mark. However, DOGE whales may not happen if they decide to sell. Instead, the token could go down to $0. 32.