Dogecoin (DOGE) Price Prediction February 2025

Amid Market Uncertainty, Dogecoin (DOGE) Poised for Upside Rally

Despite ongoing market uncertainty, the popular meme coin Dogecoin (DOGE) is positioned for a significant upswing due to its increasing popularity and strong support from crypto whales. Recently, a prominent crypto expert reported that whales have accumulated a substantial 560 million DOGE within the past week.

Crypto Whales Accumulate 560 Million DOGE Coins

The expert's post emphasized that this accumulation followed an intense sell-off, indicating growing interest from long-term holders and investors. Whales and long-term holders have consistently been accumulating DOGE tokens.

Data from Coinglass's spot inflow/outflow metrics reveals an outflow of $13 million worth of DOGE from exchanges, suggesting potential accumulation and the possibility of buying pressure.

Traders' Rising Interest

In addition to the substantial accumulation by whales and long-term holders, intraday traders also exhibit bullish sentiment towards DOGE on February 1, 2025. The DOGE Long/Short ratio currently stands at 1.05, indicating strong bullishness among traders.

On-Chain Metrics and Technical Analysis

On-chain metrics and technical analysis support DOGE's bullish outlook. DOGE appears to be forming a bullish double-bottom price action pattern on the daily time frame.

If DOGE maintains its position above the $0.31 level, it has the potential to surge by 25% and reach $0.415 in the coming days. DOGE currently trades near $0.33, experiencing a moderate price drop of 0.25% in the past 24 hours, while its trading volume has increased by 35%, indicating increased participation from traders and investors.