Dogecoin Increases 76% in Trading Volume: What Big Thing Is About to Happen?

Dogecoin, one of the biggest winners in the cryptocurrency market this month, has seen a significant 76.71% surge in trading volume, according to CoinGlass data. The surge of Dogecoin is supported by the activities of large whales. Recently, a Whale reported a transfer of 120 million DOGE to an undisclosed wallet.

The price of DOGE has grown significantly by 150% in November. The monthly profit of DOGE has reached 167% this month. Predict Dogecoin Price Recently, veteran trader Brandt shared his views on the future price of DOGE. According to Brandt, the chart of Dogecoin shows a reverse head and shoulders pattern, which could mean that this coin will return to its all-time high of nearly $0.73. The DOGE price may also be forming an "ascending flag," a technical pattern often associated with a continuing trend. If the flag is completed, it could mean a price target of about $0.66, in line with the current uptrend. Dogecoin (DOGE) has recently experienced a significant price increase, marked by a golden cross - a technical pattern in which the 50-day moving average crosses above the 200-day moving average. According to history, this formation signals a strong upward trend and often precedes major price increases. The price of DOGE has surged, surpassing resistance levels at $0.22 and $0.30, with increasing trading volume further confirming this upward momentum. Peter Brandt notes that DOGE adheres to classic chart patterns. He emphasizes the similarity between its current price action and a pattern observed in 2020, where a sideways accumulation phase developed into an inverse head and shoulders pattern.