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Dogecoin Builds Accumulation Base as Analysts Eye Bull Phase Return: Can DOGE Pump?

  • Dogecoin has bounced back from recent lows and formed an accumulation base in the $0.162-$0.167 region, following a V-shape recovery.
  • Technical analysts are observing patterns indicating a potential bullish phase for DOGE, based on Wyckoff accumulation theory and historical breakout patterns.
  • Similarities are drawn between current price action and DOGE's 2024 performance cycle, with potential gains projected to reach $0.52, marking a new yearly high.
  • On-chain statistics from IntoTheBlock support the accumulation narrative, showing increased user engagement and adoption with rising new and active addresses.

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