An analyst has explained using a pattern that Dogecoin could be off on its next bull run if a certain level can be reclaimed.

Data shows a Dogecoin whale has withdrawn $12 million in DOGE from Binance, a sign that could be bullish for the price of the asset.

Dogecoin has exploded recently, rising up more than 100% in the last seven days. Is rival memecoin Shiba Inu next in line for a sharp surge?

Dogecoin has observed a surge of 7% over the last five days as whales have been showing signs of accumulation behavior.