Dogecoin rises 21% as whales accumulate, Galaxy predicts DOGE $DOGE will reach $1

Dogecoin has risen 21% as whales accumulated over 1 billion DOGE, analysts predict the price could reach $1 by 2025. Dogecoin has increased by 21% over the past week, outperforming major memecoins like Shiba Inu, Pepe, and Bonk. At the time of publication, DOGE was trading at $0.38. Shiba Inu, Pepe, and Bonk saw increases of 7%, 10%, and 14% respectively. The price surge follows renewed interest from whales. On January 3, over 1.08 billion DOGE, worth $413 million, were purchased by whales.

On the same day, a transaction transferring 399.9 million DOGE — worth approximately $144.9 million — was moved from Binance to an unidentified wallet, according to blockchain analytics platform Blockchair. Such transactions are typically considered bullish, indicating reduced selling pressure as funds are moved into private wallets.

Data from CryptoRank shows that January has consistently been the best-performing month for DOGE, with an average return of 85% — far exceeding any other month.

In January 2021, DOGE surged by 711%, while in January 2014, it recorded a profit of 269%. April is the second-best month for Dogecoin, with notable spikes such as 546% in April 2021 and 84.9% in 2018.