3 key signs of bullying to look out for

That's not an indication that something is wrong with Dogecoin this week. Most of the major crypto tokens were trading higher on Monday after an upbeat rally as the new Congress convenes in Washington.

By Monday afternoon in Chicago, bitcoin was down about 10 percent in trading for the week. Meanwhile, Ethereum was down 18 percent from the average crypto market price seven days ago.

BNB was also trading down some 8.5%, and Solana fell by 20% from its intraday high price of $2.21 on January 6 when the representatives of the new Congress took their seats for the current session.

However, the entire crypto market rallied on Monday morning.

Just wanted to express my appreciation to President @realDonaldTrump and the many people in and out of government who support @DOGE.

I'm sure the American people will be happy with the result.

— Elon Musk (@elonmusk) January 13, 2025

It's another subtle shout-out from Elon Musk that didn't upset Dogecoin's price on Monday.

After appointing the advisory office to the new president, DOGE can collect the Department of Government Efficiency, Mask Cheap Government and Dogecoin in one post. Now that's effective.

1. DOGE Sentiment Data Marks Dive?

According to analysis by Blockchain Insights sentiment firm, Dogecoin's sentiment reading on Monday favors the world's first popular meme coin, which has its own blockchain – a fork from Bitcoin on December 6, 2013.

“Dogecoin has shed -28% of its market cap since peaking exactly one month ago,” Santiment wrote in a Thursday note to users of Blockchain Market Analysis Engine last week.

“Public sentiment has hit its lowest point in the last year,” Santiment added. “(This) means there is some upside to being a bullish contrarian to DOGE (especially) if crypto markets start to turn higher again.”

Earlier in the month, TradingLounge's Peter Mathers saw an Elliott Wave formation that could see Dogecoin rally above $0.48 and reach as high as $0.61 – Mathers wrote on January 6th.

2. Bullish exchange signals

Data from emerging markets also hints at another rally for Dogecoin soon. To start the month, more than 81% of interest in Dogecoin futures on Binance was long for DOGE.

3. Crypto whale-sized bites

Whales bought over 470 million #Dogecoin $DOGE in the last 48 hours! pic.twitter.com/d7oPvnfB6o

— Ali (@ali_charts) January 10, 2025

Crypto whale activity in the DOGE pool in January is another sign that Dogecoin is about to make another big splash in the crypto markets. On January 9th and 10th, blockchain whales bought 470 million Dogecoin in 48 hours, according to the latest data released by whale keeper Ali Martinez.

This isn't the first time whales have made a big move in Dogecoin this January. At the beginning of the month, they bought a billion DOGE tokens in less than 24 hours.

That follows the whales buying the Dogecoin dip in late December, so support from large-cap traders is strong with this one.