Dogecoin Becomes A Highly Tractive Asset As Billions Of DOGE Enters Whales’ Wallets

With every passing day, the trading price of Dogecoin (DOGE) has continued to gain strength and momentum.

The token has become highly traction among investors and the whales. This is the reason why the trading price of Dogecoin has continued surging and it has reached several major levels because of that.

Many analysts have been tracking the performance of Dogecoin due to its latest performance. They want to share their thoughts and predictions about the trading price of DOGE.

Contribution of by Ali Martinez

An analyst and a cryptocurrency trader, Ali Martinez, has shared made predictions about the trading price of Dogecoin.

With the meme coin gaining traction, Martinez has gathered important information for the token and has shared his predictions about the asset.

Support and Resistance Levels

Martinez has provided information pertaining to the support and resistance levels. He has revealed that given the recent price movements, DOGE has formed multiple new resistance and support levels.

At the time of writing, the trading price of the meme coin is $0.0809. If the price of the asset starts to decline, it will find strong support at a low of $0.07554.

Martinez even shared his findings pertaining to the wallets that are currently in possession of the meme coin. He confirmed that the report shows that 34.38 billion DOGE are being held by 44,000 unique wallets.

According to the analyst, a strong resistance level for the token is present at $0.086. For the analyst, this is the strongest resistance level for the token given the latest movement of the asset.

From a Dip to Rise

Martinez talked about the past week’s low performance of the token compared to the current performance.

He claimed that it was on February 25, when the trading price of the asset had reached a low of $0.0796. This was a concerning situation for the DOGE investors as they did not want to a decline in the asset’s price.

The bulls increased their buying power, which helped the price of the asset grow in a significant volume. The trading price of DOGE kept on surging and before the bears could react, DOGE had reached to a high of $0.0802.

The asset did not stop there as it kept on pushing for a higher trading level. From the looks of it, DOGE wanted to hit a high of $0.0826 but it wasn’t able to do it.

The price of the asset did manage to get close to the level but it could not break out.

Traction Grows for DOGE Due to Coins.ph

Those eager to know about the future of the token can rest assured knowing that the token is seeing a positive movement.

There are several developments coming in favor of the meme coin that can help it grow into the largest in the industry.

To this day, the token is being analyzed and linked with major crypto trading platforms such as Coins.ph. It is a major cryptocurrency exchange major in the Philippines.

The particular entity acts as a very high-profile trading platform for cryptocurrencies. Using the platform, the users are able to carry out trades in pairs that represent both cryptocurrencies and fiat currencies.

Coinsph’s Acquisition by the Lawyers

Following the acquisition of the trading platform, the adoption level of the token has surged tremendously. Many investors now find it profitable to invest in the asset.

No matter how much the major crypto firms have criticized the meme coin, they have continued listing it due to its potential.

Even some of the major exchanges and trading platforms such as Coinbase and Binance have announced in favor of the meme coin.

They are confident that the asset’s price is going to be pumped in near future. Therefore, it is the right time to make investments in DOGE and buy as many as possible.