Dogecoin News: Will DOGE Follow Bitcoin’s Lead to Hit $0.90?

Dogecoin Price Outlook: Whales Accumulate Amid Bitcoin Rally

Dogecoin (DOGE) has seen a surge in whale activity as the leading cryptocurrency, Bitcoin (BTC), recently hit a new all-time high. Analysts believe that DOGE may benefit from this rally and reach new heights in the long term.

Recent Dogecoin Price Movement

As of writing, DOGE traded at $0.3993, up 2.19% in the last 24 hours. Despite this daily increase, DOGE has declined by 8.16% in the past week, influenced by rising inflation concerns and market stagnation ahead of the Federal Reserve's meeting.

Market Outlook and Predictions

Market experts anticipate that DOGE and other cryptocurrencies could rally if the Fed adopts a dovish stance. CoinCodex predicts that DOGE will consolidate in the near term, reaching $0.90 by March 15, 2025. However, Changelly has provided a bearish outlook, projecting a low of $0.351 for DOGE in March 2025.

Whale Transactions and Analyst Forecasts

Notably, large investors (whales) have been actively accumulating DOGE. A recent purchase of $160 million worth of DOGE has raised speculation that these investors expect potential price movements. Analyst Ali Martinez believes this whale activity is positive for DOGE and predicts it could revisit its previous high of $0.7376 and even reach a long-term target of $3.

Trader Tardigrade has identified a bullish breakout from a Symmetrical Triangle pattern, suggesting another potential surge for DOGE. The analyst has set a price target of $8 to $10 for DOGE.

Disclaimer: The content presented in this article is for informational purposes only and should not be construed as financial advice. Investors should conduct their own research before making any decisions.