Dogecoin Bulls Eye $3 As Whales Scoop 200 Million DOGE In The Last 2 Days
The price of Dogecoin (DOGE) is now one of the main focuses of potential price increases. The whale is said to have accumulated 200 million units of DOGE in the past 48 hours, further exciting the community.
Strongly holding above $0.36
Dogecoin The recent price action continues to show promise. The coin is currently trading at around $0.414, with an intraday high of $0.418 and an intraday low of $0.369. Importantly, the coin has been holding above the $0.36 support. This price stability sets a good foundation for meme coins to move higher.
Amid the recent price surge, analysts have observed that this trend could help Dogecoin set a price target of $0.40 in the near term. This also shows the strength of the currency through fluctuations in market conditions.
Increased whale activity sparks optimism
whale— namely, the cryptocurrency’s large holders — have been largely behind Dogecoin’s recent momentum. The ~200 million DOGE accumulated by whales is a major indicator of confidence in the asset, and such behavior often precedes price increases as whales typically understand the market’s entry and exit.
The whale bought 200 million #Dogecoin $DOGE Within the past 48 hours! pic.twitter.com/vYSI3C2cUs
— Ali (@ali_charts) January 16, 2025
This whale buying spree is seen as a bullish sign, with many speculating that it could push the price of Dogecoin higher. If this trend continues, some believe a rebound to $3 is not out of the question.
Technical indicators support bulls
Technical analysis for Dogecoin is also positive. Optimism was supported by a surge in key indicators such as trading volume. In addition, a double bottom pattern – A classic bullish signal – Reinforcing confidence in the meme token’s growth.
Technical indicators such as Chaikin Fund Flow and the RSI also suggest additional upside potential, depending on DOGE sustaining fundamental support levels.
These indicators may indicate that Dogecoin is not only likely to maintain its current levels, but may break out of key resistance levels in the near future. Traders and investors are watching these developments closely.
Can Dogecoin break $3?
Although very bold, Target price $3 Not out of reach. If whales continue to accumulate and market sentiment improves, Dogecoin could surge higher. While analysts are cautious, they believe current trends are good for long-term growth.
Dogecoin’s strong technical data, market resilience, and recent whale behavior combine to create an ideal environment for possible price growth. Whether it reaches $3 or not, Dogecoin is proving that it is more than just a meme coin.
Featured images from iC7Zi, charts from TradingView
