Dogecoin (DOGE) price forecast for November 30
Dogecoin (DOGE), the world's largest and most popular meme coin, is poised to continue its upward momentum after two weeks of consolidation. The positive outlook for DOGE may be due to higher price action and Donald Trump's victory in the US presidential election.
Dogecoin (DOGE) technical analysis and upcoming level
Following the election results, DOGE has grown over 150% without pause. However, from November 12 to November 30, 2024, it remained in a minor consolidation zone between $0.353 and $0.428.
With consolidation in the DOGE, expert technical analysis indicates that the daily chart of MemCoin has formed an upper ascending triangle pattern and is on the way out. However, the Doge's current price has reached a point where it has historically faced selling pressure and declining momentum.
Dogecoin (DOGE) price prediction
Based on recent price action and historical progress, if DOGE breaks this barrier and closes a daily candle above the $0.45 level, there is a possibility of a 30% rally to the $0.57 level in the coming days.
Bullish On-Chain Indicators
On the positive side, meme coin has attracted special attention from traders and investors, according to on-chain analytics firm Coinglass. Over the past 24 hours, DOGE's open interest (OI) has risen 17 percent and increased 11 percent over the past four hours. This growing open interest indicates traders' strong faith and belief in Mem Coin, which leads to an increase in new open positions.
In addition to the strong participation of traders, whales and institutions have shown interest in meme coin, according to the chain analysis firm IntoTheBlock. According to the data, the whales' highest trading volume increased by 41.15%, indicating a strong movement from long-term holders.
The combination of these top chain metrics and technical analysis indicates a strong bullish trend in the coming days, indicating good buying opportunities.
Current price momentum
At press time, DOGE is trading at around $0.43 and has experienced an upward movement of over 8.15% in the last 24 hours. During the same period, the transaction volume increased by 5.5%, which shows the high participation from traders and investors.
