Dogecoin has experienced a significant price surge, rising nearly 15% to $0.39. The surge occurred within 24 hours and was supported by a sharp increase in trading volume. Analysts have pointed to significant whale activity as the main catalyst behind this sudden uptrend.

Whale's purchase highlights strong confidence

Notably, whales have been buying Dogecoin in large quantities, indicating strong confidence in its potential. Reports revealed that 1.08 billion DOGE tokens were bought by large holders. The move has further amplified the market optimism, despite recent outflows of as much as $35 million.

According to cryptocurrency analyst Ali Martinez, this whale activity underscores strong confidence in Dogecoin’s trajectory. The surge in whale purchases also coincided with a 190% increase in trading volume, highlighting growing investor interest.

Indicators signal bullish trend

Additionally, Dogecoin's three-month Supertrend indicator has turned bullish for the first time since January 2022. This indicator has previously provided reliable predictions of major Dogecoin price rallies. The last time the Supertrend turned bullish was in 2017, resulting in a large price increase.

Furthermore, crypto analyst Crypto Surf highlighted the significance of this development. Previously, a green Supertrend indicator signaled an increase of more than 5,000% within a few months. Market observers are now closely watching to see if this pattern repeats itself in 2025.

Rumors fuel protests

Furthermore, speculation surrounding Dogecoin’s connection to Donald Trump’s upcoming inauguration has added to the intrigue of its price movements. Some investors believe that Elon Musk’s support for both Dogecoin and Trump may be influencing market sentiment. While these claims remain unverified, they have contributed to the increased interest in the token.

Despite the rumors, analysts maintain a cautiously optimistic outlook. Predictions suggest that Dogecoin could rise another 22% in the short term. Market sentiment remains largely bullish, fueled by whale activity, rising trading volumes, and technical indicators.

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