Recently, it's been a bit quiet around Dogecoin (DOGE). The memecoin has been hovering around $0.31 and reached a local peak of nearly $0.48 in early December. However, the disappointing performance does not seem to have scared off the so-called whales.
On the contrary: they actually bought more tokens. According to data shared by cryptocurrency analyst Ali Martinez on X, these major investors purchased a total of 300 million DOGE, valued at $94 million.
Whales Continue to Accumulate
These purchases were made during the holidays, a time when the cryptocurrency market is usually quiet. In a prior transaction, smaller investors acquired 270 million DOGE. Whale activity is often seen as an indicator of future price trends, as these large participants have access to advanced market information and strategies that smaller investors do not.
The confidence of whales in assets like Dogecoin can be a strong signal. They tend to think long-term and accumulate assets at relatively low prices, hoping for significant appreciation in the future. Their recent purchases indicate an optimistic outlook for DOGE's opportunities in the coming months.
DOGE Price Expectations
According to cryptocurrency analyst Javon Marks, Dogecoin is about to experience an astounding revival. He anticipates an upside potential of up to 630%, with a target price of $2.28. Despite a recent drop of 46%, Marks remains optimistic, believing that this adjustment is only temporary.
Other analysts share the same optimistic outlook. Javier Santini predicts a price of $4, while Ali Martinez even believes that, if all factors are positive, the valuation could reach $18. Historically, Dogecoin has shown similar price patterns in previous market cycles (such as in 2017 and 2021), leading to impressive rebounds.
Conclusion
Although Dogecoin's current valuation is relatively low, the continued whale activity and optimistic analyst expectations suggest that the memecoin may surprise again in the coming months. Whether the predicted scenario will materialize remains to be seen, but the signals are positive.
