Dogecoin Price Prediction as $500 Million Trading Volume Comes In – Are Whales Buying?

cryptonews.com:

The Dogecoin price has dropped by 2.5% in the past 24 hours, falling to $0.072580 as the wider cryptocurrency market suffers a 1% decline.

At $0.071741, DOGE has dropped by 2% in the past week and by 19% in the last 30 days, although the meme token is up by a very modest 2.5% since the start of the year.

However, with the coin's 24-hour trading volume peaking above $500 million today, there has been an increase in liquidity that potentially makes more gains likely in the immediate future.

And with DOGE holders still hoping for some kind of Twitter payments integration later in the year, the token could end up rising massively in the coming months. 

DOGE's indicators are lining up nicely for a big rebound rally in the not-too distant future, with both its relative strength index (purple) and 30-day moving average (red) at undervalued levels.

After sinking to nearly 20 earlier this month, DOGE's RSI has risen close to 50 in the past couple of days, and should climb further soon.

Likewise, its 30-day average has fallen below its 200-day (blue) and may reach a bottom soon, at which point it's likely that an upwards correction will arrive.

A key resistance level for DOGE right now is $0.075, with the coin being pushed down from this level on several occasions in the past week or so.

In terms of what whales seem to be thinking about DOGE, there have been a mixture of transactions in the past couple of days, with some large holders moving the coin to exchanges and some moving it from exchanges.

At the same time, there have been a few large transfers between unknown wallets, potentially indicating that someone may be preparing to sell, or possibly simply indicating a reorganization of wallets.

Regardless, there's an argument that DOGE is