A pseudonymous crypto analyst said that Dogecoin DOGE/USD is at an “important level,” as the meme coin continues to rally.
What Happened: “Pentoshi’ told his 672,000 followers on Twitter that Dogecoin is at a crucial level. The graph shared by the analyst shows the crucial resistance level at $0.093.
“Breaking out from the range highs that has stopped it for the better part of almost a year. Would like to see this level hold and have follow through to the upside,” the analyst said.
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The analyst noted that DOGE is “more of an impulsive coin so not always easy to catch.”
According to the graph shared by the analyst, DOGE will reach the $0.10 mark and see an upward movement toward $0.15.
On a real note think $DOGE here is at an important level
— Pentoshi (@Pentosh1) January 31, 2023
Breaking out from the range highs that has stopped it for the better part of almost a year. Would like to see this level hold and have follow through to the upside
More of an impulsive coin so not always easy to catch pic.twitter.com/wCh2fL3Zef
Meanwhile, Dogecoin whales are on the move. According to research firm Santiment, Dogecoin witnessed a significant uptick in whale transactions and address activity on Tuesday — the highest levels yet seen in 2023. Over 523 transactions, each worth more than $100,000, were recorded, along with 86,400 active addresses
#Dogecoin has broken out with major whale transactions today, easily the highest of the year, going along with address activity spiking. The polarizing coin is up +40% since December 29th, and is back above $0.095 for the first time since December 10th. https://t.co/NjeLyhFKe2 pic.twitter.com/AWEOtqD1ax
— Santiment (@santimentfeed) January 31, 2023
Price Action: At the time of writing, Dogecoin was trading at $0.091, down 1.60% in the last 24 hours, according to Benzinga Pro data.
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