Dogecoin (DOGE) Remains One of the Top-Performing Coins This Week, with Whales Gobbling Up More Tokens

Dogecoin remains one of the top-performing coins this week, with whales gobbling up more tokens, increasing volume

Dogecoin (CRYPTO: DOGE) price has remained in the top performers this week as more price targets and technical outlooks are emerging for the meme coin.

What Happened: Dogecoin is still trading in green on a week-over-week and month-over-month basis despite May price action. The cryptocurrency is up 13% over the last seven days of trading and 48% over the last 30 days.

On Wednesday, Dogecoin is trading at $0.2176 at the time of writing. At the beginning of April, Dogecoin was trading at around $0.60. The cryptocurrency faced stiff resistance at $0.20 for several months of trading in 2024.

Dogecoin finally broke through the resistance level on May 9 with momentum shifting in the meme coin’s favor. Over the next few days of trading, Dogecoin turned the previous resistance into solid support.

The cryptocurrency is now in the process of forming a bullish structure, which can be seen on the 4-hour chart, setting up several price targets for Dogecoin.

Related Link: Uncovering The Mystery Behind FTX's Missing Tokens: A Deep Dive

Chart Link: Benzinga Mena

As Dogecoin continues to show strength on technicals and charts, another cryptocurrency in the making could be setting up for even bigger gains.

Remittix is still in presale and like Dogecoin, is managing to build a community with its fresh take on how cross-border payments can be revolutionized.

For years, the international remittance landscape has been dominated by popular fintech apps like Spribe and Wise supporting fiat-to-fiat transactions while Coinbase (NASDAQ:COIN) has been focused on crypto-to-crypto settlements.

Remittix is entering the picture with a different story to tell: crypto-to-fiat settlements that are fast and convenient, safe with no FX fees and no hidden charges.

The Remittix project leverages blockchain technology, enabling its users to enjoy transaction safety and full transparency. Its smart contract runs on the Ethereum chain and according to a recent Blocksafu audit, Remittix's Pay API has been rated 'Very Safe'.

Dogecoin Price Action: Dogecoin is forming a bullish pennant pattern on the 4-hour chart. A pennant pattern is a bullish structure that occurs after a strong price move, followed by a period of consolidation.

The pattern is created when the price pulls back sharply from a high, forming a flagpole, then consolidates in a symmetrical or wedge-shaped pattern, known as the pennant.

If Dogecoin continues to follow the pattern, its next price target is $0.33, which represents a possible 46% increase from its breakout level of $0.227.

Dogecoin is also trading within the bullish flag pattern and is being backed by increased accumulation from whales. Increased interest from whales can typically be an indication of confidence in an asset, setting up a surge in price.

Dogecoin is currently trading at $0.2293 and is up 13% over the last seven days, according to Benzinga Pro.

DOGE Price Chart by TradingView

The Remittix (RTX) Token: The RTX token is currently building strength during its presale, initially offered at $0.015.

The token is now priced at $0.0757, with the next price increase pending at $0.0781. Early buyers are already looking at a clean 400% ROI, a figure that is set to explode once Remittix hits the open market.

The project has already managed to raise over $15 million in presale funds, with only 20% of the tokens remaining.