Dogecoin (DOGE) price forecast for December 29

Dogecoin (DOGE), the largest and most popular meme coin by market cap, is showing signs of reversing its recent price decline. Over the past few days, DOGE has experienced significant declines, but recent consolidation, continued stockpiling by whales, and a shift in market sentiment could push it higher.

Can Dogecoin (DOGE) Break $0.36? Key steps to be observed

With market volatility and continued consolidation, DOGE has formed a descending triangle pattern on the four-hour time frame and is poised for a breakout.

DOGE price prediction

According to expert technical analysis, if Memcoin breaks this pattern and closes the candle above the $0.327 mark on the same time frame, there is a high probability that it will rise by 11% to reach $0.36 in the near future.

However, this assumption is short-term based and can be seen in the coming days.

On the daily time frame, DOGE appears to be consolidating in a tight range below the critical support level of $0.36. Based on the recent price action, if DOGE breaks out of this narrow zone and closes the daily candle above the $0.36 mark, there is a good chance that it could rise by 30% to reach $0.465 in the coming days.

Whales store 90 million doji

In this ongoing consolidation, whales have shown strong interest and confidence in Meme Coin.

According to a post by popular crypto expert X (formerly Twitter), whales have bought 90 million Doji tokens. This large stock of whales has the potential to create buying pressure and drive further upside.