DOGE News: Possible Bottom Forming After 77% Slump, with Bulls Eyeing Future Growth

Dogecoin: Is the Bottom In After a 77% Slump?

Dogecoin (DOGE) has plummeted nearly 77% from its all-time high. The memecoin has struggled due to market-wide selling pressure, but hints of a possible bottom are developing. A crypto trader feels that Doge is possibly at its lowest position, with whales accumulating and technical indicators showing bullish signals. Meanwhile, Rexas Finance (RXS), a popular $0.20 utility token, is also gaining traction ahead of its exchange debut.

Over 120 Million Dogecoin Accumulated by Whales in 7 Days

Over the past week, whales have accumulated over 120 million Dogecoin (DOGE), signaling strong bullish interest. The meme coin is currently trading tightly between $0.16 and $0.18. A breakout above $0.18 could trigger a rally toward $0.20, while key support at $0.15 remains crucial. A drop below this level may lead to declines toward $0.13 or $0.12.

Dogecoin Breaks Out of Downtrend, Signals Growing Buying Pressure

Dogecoin (DOGE) has broken out of its downtrend, forming higher highs and higher lows. A breakout from an ascending triangle suggests a significant move could be imminent. Binance Futures data shows over 76% of traders are betting on further upside, reinforcing bullish sentiment. Tightening Bollinger Bands on the 12-hour chart indicate reduced volatility, often a precursor to a sharp breakout. With Bitcoin’s surge fueling gains across altcoins, DOGE has emerged as one of the top beneficiaries, showing strong technical signals.