In December 2024, Dogecoin's 'big players' really made a big move, not only crazily buying over 570 million DOGE, worth $188 million, but also fully showing their bullish sentiment towards Dogecoin's future.
As one of the most watched meme coins, Dogecoin has always attracted attention. The active positioning of these 'whale' investors has made Dogecoin the focus of the market.
Looking back at Dogecoin's performance in January, its average return can reach 83.9%. Although everyone is full of expectations for its price increase, in reality, its trend still shows some volatility, and many people in the market remain cautious.
While everyone is immersed in the celebratory atmosphere at the end of 2024, the core investors of Dogecoin are quietly increasing their positions, accumulating an astonishing amount of coins.
For example, an investor holding between 100 million to 1 billion DOGE spent $94 million on one day to purchase 300 million Dogecoins. Just a week ago, another group of investors holding between 10 million to 100 million DOGE purchased 270 million DOGE.
This frequent and large-scale buying behavior makes the future trend of Dogecoin even more intriguing to speculate.
Such a large-scale acquisition is not just a numerical increase; it actually conveys that investors' confidence in Dogecoin's upward trend in the coming year is growing stronger. After all, whale investors are often the market's barometer, and their actions may be paving the way for Dogecoin's explosive growth.
So, can Dogecoin break through the historical pattern of January?
Dogecoin's performance in January is very critical in its historical trends. In the past decade, Dogecoin's average return in January has reached as high as 83.9%.
However, the reality is that Dogecoin's performance in January has not always been so impressive. In the past 11 years, there have only been five instances of positive returns in January, while the other months averaged a loss of 3.86%. This has made the trend of Dogecoin in January full of variables and uncertainties.
Although Dogecoin's performance has had ups and downs, January 2025 could become a critical turning point, bringing significant changes.
After the bull market in 2021, Dogecoin closed at $0.315 in December 2024, reaching an all-time high, with the price soaring over 700% that month, setting a benchmark for its future potential.
Currently, Dogecoin’s monthly chart is above a key support area, and the bullish atmosphere in the market is growing stronger, attracting the confidence of many traders and analysts. However, based on historical trends and the current situation, some people remain cautious, believing that the price still carries the risk of a pullback.
Musk's bold statement - 'Can save $2 trillion in the future'?
As a staunch supporter of Dogecoin, Musk has played a key role in its growth process. Some of his unique actions, such as establishing the 'Dogecoin Government Efficiency Department', have successfully attracted a lot of attention.
He once stated that if the United States could cut $2 trillion in spending, the effect would be significant. This remark garnered praise on one hand, but also faced some skepticism on the other.
Musk's company - Tesla, has also contributed to the development of Dogecoin. In addition to accepting Dogecoin as a payment method, Tesla's balance sheet also holds about 10,000 Bitcoins.
Musk's influence is closely tied to the trend of Dogecoin, leading investors to speculate whether 2025 will be the breakthrough year for Dogecoin.
Currently, the trading price of Dogecoin is $0.3186, having risen by 0.44% in the past 24 hours.
Although it seems unrealistic for Dogecoin to soar to $23 and reach a market value of a trillion dollars - after all, its current market value is only $46.9 billion, it still sparked heated discussions and excitement in the market.
