Dogecoin is gaining attention as large holders, or “whales,” put an extra $149 million into the market. This sparked hopes of a major price rise. Analysts are now watching if DOGE can break through key levels and see a big jump.
Whale Activity Gives Dogecoin a Bullish Boost
The Dogecoin price is showing strength as whales contribute fresh funds. Over the last 24 hours, big players have added $149 million to DOGE, showing their confidence in its recovery. Experts describe Dogecoin’s trend as “super bullish,” with targets of $9 to $10.
In just a day, DOGE jumped 6.9%, hitting $0.1764. Over the past week, it has jumped 27.8%, with a two-week increase of 50.9%. With the upcoming U.S. elections, expectations for Dogecoin are high.
Why Is Dogecoin’s Price Increasing?
Data shows DOGE and Bitcoin (BTC) have a close link, with a 94% correlation, according to IntoTheBlock. This means when BTC rises, DOGE often follows. Recently, as Bitcoin crossed $66,000, the Dogecoin price also went up, adding to its positive trend.
ITB data also highlights a sharp rise in whale activity, with large DOGE holders’ inflows growing from 3.08 million to 861 million DOGE. This shows a strong belief in Dogecoin’s future.
Technical Analysis: Can DOGE Reach $10?
The Dogecoin price broke through a key resistance level at $0.22. Experts think if DOGE stays above this level, it could rise another 29%. Analysts believe DOGE could reach $10 by the end of this bull run if the trend stays strong.
