$DOGE

Dogecoin (DOGE) is in the spotlight in the crypto world after MEME Coins Inc., a subsidiary of Dogecoin Cash, Inc., purchased 1 billion DOGE tokens from Tipestry, Inc. This move increased its total reserves to 2.02 billion DOGE, confirming the growing institutional interest in meme coins and contributing to a strong rally in Dogecoin price.

Market Reaction and Trading Activity

Following the announcement, DOGE price increased significantly due to the large acquisition. Historically, such moves by institutional investors influence market sentiment and lead to volatility. Some traders see the purchase as a positive sign for the long-term, while others are more cautious due to the liquidity and stability of the market.

DOGE Price Analysis and Forecast

During the trading session on March 23, Dogecoin showed an uptrend, with several golden crosses that strengthened the price growth.

However, corrections occurred when death crosses and overbought RSI signals appeared.

The price settled in a range between $0.169 (support) and $0.175 (resistance).

On March 24, the price tested the resistance and corrected slightly, but a subsequent golden cross revived the uptrend.

DOGE Future Outlook

Strong institutional buying increased trading volume and volatility. If buying interest persists, DOGE may break out of the $0.175 resistance and continue the uptrend. However, potential profit-taking could lead to a move back towards the $0.169 support. Investors should monitor key technical indicators such as MACD and RSI to determine the next price movement.