Summary:
- Whales have recently invested over $480 million in DOGE tokens, accumulating a significant amount.
- Experts like Altcoin Sherpa and KALEO predict a strong rally ahead, with price targets reaching new all-time highs and potentially hitting $6.94. The cooling RSI of DOGE from 80 to 54 indicates a possible uptrend.
Insights into Whales’ Activity
In the past week, major Dogecoin investors, particularly those holding 100 million to one billion coins, acquired two billion DOGE, totaling nearly $500 million. This increased their total holdings to 27.6 billion tokens, around 18.3% of the circulating supply.
DOGE saw a 17% price surge to $0.24, driven by substantial whale accumulation, sparking speculation about potential insider knowledge leading to further gains.
“2B DOGE in 7 days? Either they know something we don’t… or we’re about to find out the hard way,” commented one user, reflecting on the massive purchases.
The imminent approval of a spot DOGE ETF in the USA is anticipated to positively impact prices, aligning with the whales’ apparent anticipation. Current odds of approval by the end of 2025 stand at 61%, a decline from 79% in early August.
Upcoming Targets and Projections
The crypto community displays optimism about DOGE’s future, envisioning a significant short-term rally. Altcoin Sherpa believes the current market conditions are conducive for a potential surge.
KALEO forecasts a new all-time high for DOGE following Bitcoin’s recent record-breaking performance, setting a target of $6.9420 based on historical chart patterns.
With DOGE’s RSI at 54, moving away from bearish levels, there’s speculation that the meme coin could be gearing up for further gains, especially if it follows Bitcoin’s positive trajectory.
The potential for a significant price rally in Dogecoin is gaining traction, driven by whale activity and market sentiment, signaling a potentially bullish trend ahead.
Original Source: CryptoPotato.
