- Dogecoin has surged by 27% in the last week and 237% in the past 30 days.
- Whale activity has driven large-scale purchases, with over 550 million DOGE bought in the past week.
- Analysts are predicting potential for DOGE to surge past $0.6533, with $1.25 as the next target.
Dogecoin (DOGE) is showing strong bullish momentum, capturing the attention of the crypto community with its impressive performance. Over the past week, the memecoin has surged by nearly 27%, and in the last 30 days, it has experienced an extraordinary 237% increase, easily outperforming other memecoins in the sector. This surge is aligned with the broader market rally, as Bitcoin (BTC) approaches the $100k mark, sparking optimism among investors.
At the time of writing, Dogecoin is priced at $0.470141, with a 24-hour trading volume of $41.62 billion and a market cap of $69.05 billion. The cryptocurrency is also gaining market dominance, currently holding 2.04% of the market. Notably, in the last 24 hours, DOGE’s price has risen by 18.97%, signaling strong investor confidence and fueling expectations of further growth.
Dogecoin Whale Activity and Market Support
A key factor contributing to Dogecoin’s recent rally is the activity of whales. In the past week alone, DOGE whales have acquired over 550 million DOGE tokens, worth approximately $214.5 million. This large-scale accumulation indicates significant interest in Dogecoin, suggesting that major players in the market believe in its future potential.
Dogecoin Eyes $0.65, Potential 52% Surge Ahead
As DOGE continues to climb, analysts are closely watching its potential price trajectory. Javon Marks, a crypto market analyst, has shared a bullish outlook for DOGE, predicting that the price could surge toward $0.6533 in the near future. According to Marks, breaking this level would open the door for a significant rally, with potential for an additional 52.2% increase in value.
If DOGE manages to break above the $0.6533 resistance, the next target could be $1.25, a level that has sparked considerable excitement among investors. With market sentiment leaning bullish and whales continuing to accumulate, Dogecoin’s price could see significant upside in the coming weeks.
Related | Polkadot (DOT) Up 40%: Key Levels to Watch for $11-12 Target
