Dogecoin Whales Bought Over 2 Billion DOGE Last Week: Price Rally in the Making?

TL;DR

Large investors have recently acquired billions of DOGE tokens, indicating potential bullish momentum. Analysts predict a possible rally, with some targeting $1 as the meme coin's price goal.

DOGE Whale Activity

Dogecoin (DOGE) experienced a surge in September, but has since lost momentum. Currently trading at around $0.10, it may be poised for a resurgence.

Increased whale activity suggests this possibility. IntoTheBlock reports that large investors purchased 2.07 billion DOGE tokens last week, exceeding the January accumulation level.

If investors hold onto their DOGE, the circulating supply will decrease, potentially leading to price increases due to reduced supply and stable demand.

Analyst Predictions

Crypto analysts see bullish indicators for DOGE. Ali Martinez notes a historical pattern suggesting a potential 200% surge followed by a 60% retracement and another rally.

Mikybull Crypto predicts a minimum target of $1 in this cycle, citing preparations for an explosive wave of rallies.

For further bullish DOGE price predictions, refer to CryptoPotato's dedicated article .