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<p>Dogecoin (DOGE), the world’s largest meme coin, is poised for a notable upside rally after being sideways for almost a week. Whales or institutions always tend to accumulate in this sideways price range, as DOGE's price action and on-chain metrics support its bullish outlook.</p>   
<h2 class="wp-block-heading" id="h-whale-activity-large-transactions-up-42"><strong>Whale Activity: Large Transactions Up 42%</strong></h2>   
<p>Recently, data from the on-chain analytics firm <a href="https://app.intotheblock.com/coin/DOGE" target="_blank" rel="noreferrer noopener nofollow">IntoTheBlock</a> has gained notable attention from crypto enthusiasts. According to the firm, DOGE’s large transaction volume jumped by 42%, indicating that whales and institutions have made significant transactions in the past 24 hours.</p>   
<figure class="wp-block-image size-full">
 <a href="https://image.coinpedia.org/wp-content/uploads/2024/11/19044737/image-298.png"><img src="https://image.coinpedia.org/wp-content/uploads/2024/11/19044737/image-298.png" alt="" class="wp-image-381417"></a>
 <figcaption class="wp-element-caption">
  Source: IntoTheBloack
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</figure>   
<p>This notable rise in large transaction volume over the past 24 hours hints at a bullish market outlook for both traders and investors.</p>   
<h2 class="wp-block-heading" id="h-dogecoin-technical-analysis-and-upcoming-level"><strong>Dogecoin Technical Analysis and Upcoming Level</strong></h2>   
<p>According to expert technical analysis, DOGE has broken out of a bullish descending triangle price action pattern. However, it is currently consolidating in a tight range and facing strong resistance at the $0.38 level.</p>   
<p>Based on recent price action, if the meme coin breaches this resistance level and closes a daily candle above $0.38, there is a strong possibility it could soar by 15%, reaching the $0.45 level in the coming days.</p>   
<figure class="wp-block-image size-large">
 <a href="https://coinpedia.org/wp-content/uploads/2024/11/DOGEUSDT_2024-11-19_04-49-09.png"><img src="https://coinpedia.org/wp-content/uploads/2024/11/DOGEUSDT_2024-11-19_04-49-09-1024x448.png" alt="" class="wp-image-381418"></a>
 <figcaption class="wp-element-caption">
  Source: Trading View
 </figcaption>
</figure>   
<p>However, if the meme coin manages to hold itself above the $0.45 level, DOGE could potentially reach the $0.57 level in the coming days.</p>   
<p>As of now, DOGE is trading above the 200 Exponential Moving Average (EMA) on&nbsp; a daily time frame, indication an uptrend.</p>   
<h2 class="wp-block-heading" id="h-bullish-on-chain-metrics-nbsp"><strong>Bullish On-Chain Metrics&nbsp;</strong></h2>   
<p>In addition to technical analysis, on-chain metrics further reinforce DOGE’s bullish outlook. According to the on-chain analytics firm Coinglass, DOGE’s Long/Short ratio on Binance currently stands at 3.45, reflecting strong bullish sentiment among traders.</p>   
<figure class="wp-block-image size-large">
 <a href="https://image.coinpedia.org/wp-content/uploads/2024/11/19045000/image-299.png"><img src="https://image.coinpedia.org/wp-content/uploads/2024/11/19045000/image-299-1024x258.png" alt="" class="wp-image-381419"></a>
 <figcaption class="wp-element-caption">
  Source: Coinglass
 </figcaption>
</figure>   
<p>The data also reveals that 77% of top traders currently hold long positions, while 23% hold short positions. This ratio is the highest recorded since the beginning of October 2024.</p>   
<p>Currently, DOGE is trading near $0.37 and has registered a gains of over 4.15% in the past 24 hours. During the same period, its trading volume increased by 8%, indicating heightened participation from traders and investors amid the bullish price action pattern.</p>

Whales Jump on Dogecoin (DOGE), Bull Run Incoming?

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