Dogecoin Price Stalls But Could Accumulating Whales Lead to Another DOGE Bull Rally?

Dogecoin Price Stalls, But Whales' Accumulation Suggests Potential Bull Rally

TL;DR:

Dogecoin enjoyed initial gains after the US elections but has since lost momentum. However, whales continue to accumulate the meme coin, potentially indicating future price increases.

DOGE's Current Standing and Whales' Purchases:

Following Donald Trump's election victory in November, crypto assets, including Dogecoin, experienced price spikes. Musk's expected role in the potential "Department of Government Efficiency (D.O.G.E)" branch was a likely factor.

DOGE surged nearly threefold initially, surpassing XRP temporarily. However, its rally stalled, and it currently hovers around $0.40 after facing rejections at $0.44.

Despite the price plateau, Dogecoin whales have remained active. Santiment data indicates that they accumulated an additional 160 million DOGE over the weekend.

Can DOGE Revive Its Bull Run?

Analysts remain optimistic about DOGE, with predictions of a new all-time high. Dogegod forecasts a rise to $2.2, while Javon_Marks anticipates a 400% surge to $2.28.

The post concludes by noting the possibility of whales' accumulation leading to a future bull rally for Dogecoin.