Preparing for a price rally?

TL; DR

Large investors have recently bought billions of DOGE tokens, indicating bullish momentum. Analysts already foresee a possible rally, setting a target of $1 for MemCoin.

DOGE Wales on the move

Dogecoin (DOGE) was one of several meme coins that saw a significant increase in value at the end of September. Since then, however, it has lost momentum and is currently trading at $0.10 (according to Coingecko data).

One factor that suggests a renewed tide may be on the horizon is increased whale activity. Crypto intelligence platform IntoTheBlock revealed Big investors bought 2.07 billion DOGE tokens (worth over $220 million at current prices) last week. The last time whale stocks reached that level was in January. This year.

If investors buy DOGE and hold their stock without selling, The supply of blood in the market decreases. Basic economic principles suggest that an increase in prices is accompanied by stable or rising demand.

The actions of whales are closely watched by small players. Such a stock can indicate confidence in the property, which leads to buying from the retailer Merchant (Thus more capital flows into the ecosystem).

Another factor that indicates that the price of DOGE is set to move higher is the increase. Large transactions. The measure increased 1% for transactions over $100,000. Daily balance, Flashing A sign of failure.

DOGE forecasts

Many analysts on crypto X believe that the leading meme coin is preparing for support in the coming months. Ali Martinez, for example, said the price chart formed a pattern similar to the one seen years ago. He He believes. This can be a 200% operation, 60% refinish and prerequisite. and then A bull run.

Mikubul Crypto was optimistic Composition $1 as the “minimum target” for this cycle. He added: “We are currently preparing for the next wave of protests.”

Those who are willing to check more bullish Dogecoin price predictions Taking a See our dedicated article over here.