Dogecoin's price stagnates, but can the accumulation by whales trigger another round of Dogecoin bull market rebound?

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Donald Trump won the U.S. presidential election in early November, causing the prices of various crypto assets to rise immediately, including the largest meme coin. This is likely due to Elon Musk's role in the future government, where he is expected to manage a new branch of government efficiency (DOGE).

In the first few weeks of significant growth in network trading volume, DOGE's price nearly doubled. Additionally, the meme coin temporarily surpassed XRP, but everything changed with the role reversal.

Despite Ripple’s native token exploring new heights not seen in six years, DOGE has somewhat stagnated, with its price slightly above $0.4 after being rejected several times at $0.44.

Nevertheless, Dogecoin whales do not seem to be unsettled by the recent lack of price action. Data from Santiment shared by renowned analyst Ali shows that these large investment entities accumulated another 160 million Dogecoins just over the weekend.

Recall that the last time whales went on a buying spree for DOGE, the asset's price exploded in the following month or so.

Can DOGE revive the bull market? Many analysts remain optimistic about DOGE, with some predicting that it is about to reach an all-time high. One of the recent predictions from dogegod suggests that the asset will soar to $2.2, which would be approximately three times the current ATH from 2021.

Javon_Marks has similar targets. This strategist states that Dogecoin is "in its third bull market cycle," which could drive it up significantly over 400%. If such a rebound occurs, Dogecoin's price would reach around $2.28.

Click the left avatar to watch the live stream and get the bull market password!!!