- Dogecoin whales have added 470 million DOGE ($155M) in just 48 hours, increasing investor confidence.
- Analysts highlight a Descending Wedge pattern, forecasting a potential breakout with a 120% price surge to $0.739.
- Over 1 billion DOGE accumulated weekly reflects bullish sentiment and growing interest in the meme coin.
Dogecoin whales have gone into a frenzy by purchasing massively, as reports suggest that large-scale investors have added an incredible 470 million DOGE to their wallets. This purchase comes at a time when the price of Dogecoin was in a bullish recovery mode across key metrics, fueling analysts to predict a major uptrend.
Prominent crypto analyst Ali Martinez shared on X, formerly Twitter, on January 11 that whales are back accumulating Dogecoin. According to Martinez, deep-pocketed investors have bought more than 470 million DOGE in the last 48 hours, valued at about $155 million at current market prices. Such extensive whale accumulation often indicates growing excitement within the digital currency and might positively influence market psychology.
Martinez’s analysis was supported by a detailed chart showing the behavior of wallets holding between 10 million and 100 million DOGE. The chart showed that cumulative holdings have gradually increased, particularly since early January 2025, after a relative period of stability in late December 2024. Another crypto analyst, CEO, commented on this trend, revealing that whales have acquired over 1 billion DOGE in the past week alone.
The chart presented by Martinez identified critical price levels at which significant whale activity occurred, specifically between $0.314 and $0.355. These price points highlight notable volatility and slight pullbacks, presenting buying opportunities for investors. Dogecoin previously surged to record highs above $0.4 in 2024 but subsequently corrected to come closer to $0.3.
Dogecoin Analysts Predict 120 Percent Rally
The recent 470 million DOGE purchase comes when the cryptocurrency’s key metrics are experiencing a bullish recovery. According to crypto analyst Javon Marks, Dogecoin is forming an Ascending Wedge pattern, a technical chart pattern that indicates possible price breakouts. Market expert Rose Premium Signals added that the macro charts of Dogecoin reveal a strong bullish structure, with accumulation near critical support zones in confluence with long-term Fibonacci levels.
The Descending Wedge pattern, better known as the Falling Wedge, is usually bullish and forms during downtrends. It often culminates into upside breakouts via the upper trend line and is frequently followed by upside reversals and continuations. As noted by Marks, DOGE was well-set for this setup.
According to Marks, a breakout from the current Descending Wedge could propel DOGE to new all-time highs. He thinks the meme coin could see a remarkable 120% price surge, probably from its current $0.33 to a bullish target of $0.739. This has brought joy to the Dogecoin community and investors.
Large whale accumulation and indicators are painting a very promising picture for Dogecoin. With over 1 billion DOGE acquired in just one week and key patterns indicating a breakout, the market is filled with expectations. If DOGE achieves the said price targets, it will be another feather in its cap as one of the most influential and highly talked-about cryptocurrencies.
Investors and enthusiasts closely monitor Dogecoin’s next moves, as the meme coin’s resurgence could redefine its trajectory in the crypto market.
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