Dogecoin Whales Getting Ready for 'Bullish Breakout,' Says Popular Analyst: 'Major Resistance' Sits at This Level

Cryptocurrency analyst Ali Martinez said on Sunday that Dogecoin whales could be positioning for a “bullish breakout” even as the memecoin battled strong resistance.Do Whales Know Something?Martinez highlighted that large investors bought 1.14 billion DOGE worth $112 million over the last four days, adding, “Whales appear to be positioning for a bullish breakout.”The on-chain researcher also flagged $0.098 as a “major resistance” where roughly 28 billion DOGE previously changed hands.“Clear that, and $0.20 becomes the next major hurdle, backed by approximately 12 billion DOGE,” Martinez said.$112 MILLION IN DOGE BOUGHT BY WHALESDogecoin has hit a major resistance zone around $0.098, where roughly 28 billion DOGE previously traded.Yet whales continue to accumulate.Over the past 96 hours, large entities have bought more than 1.14 billion , worth roughly $112… Positive Action Incoming?Javon Marks, another widely followed technical analyst, predicted “positive action” for DOGE, citing a bullish divergence on the Moving Average Convergence Divergence indicator.“This divergence can be responsible for Dogecoin entering a continuation towards its breakout target at $0.6533 and that’d be massive as this target is currently over 560% away.” Marks stated. is back responding positively to a MACD Bullish Divergence and with a shifting market + a holding breakout, there could be much more positive action coming in!This divergence can be responsible for Dogecoin entering a continuation towards its breakout target at $0.6533… Read Also: Bullish bets for DOGE SpikeThe Bull Bear Power indicator, which measures the strength of buyers and sellers, was “Neutral” for DOGE, and so was the Relative Strength Index, to TradingView.Binance’s top derivatives traders—the top 20% of users with the highest margin balance—increased their long exposure to the memecoin over the weekend, according to Coinglass.Price Action: As of this writing, DOGE is down 1.30% in the last 24 hours to $0.0943, to Benzinga Pro. Read Also: Photo Courtesy:ihrinmoisuc on Shutterstock.com