Dogecoin on the Verge of a Massive Price Rally

Experts believe Dogecoin may soon experience a significant price surge not seen since December 2021. The cryptocurrency market shows that this coin is ready for a major breakout. Crypto analyst Ali Martinez evaluated the current technical indicators and predicted that Dogecoin's price could increase by up to 200% in the coming weeks if the current trend continues.

Dogecoin’s Price is on the Rise

Martinez pointed out that Dogecoin has broken out of a long-term downtrend, which in the past has often led to a sharp price increase. Historically, when Dogecoin overcame such trends, its price rose by 200%. According to his analysis, Dogecoin could soon surpass the $0.2236 level, a price not seen since December 2021.

In late September, a breakout led to a 25% price increase. However, Dogecoin was unable to sustain the growth and dropped back to $0.11. Other analysts share the view that if Dogecoin breaks past the $0.1120 level, it could easily reach $0.1315 this month. However, they urge traders to be cautious, as in the past, these rallies were often followed by a 60% retracement before the coin gained upward momentum again.

Key Drivers of Growth

Surge in Active Addresses as a Key Indicator
One of the main reasons analysts expect a significant price increase in Dogecoin is the rise in active addresses. According to Martinez, the number of active Dogecoin addresses has reached 133,880, the highest level in the past eight months. This surge suggests a growing interest in the coin, with new users joining the market. The increased activity is helping push the token’s price upward.

For example, around 110,000 investors recently jumped into Dogecoin, allowing it to outperform its rivals like #Shibalnu and #pepe⚡ . The growing trading volume shows that Dogecoin is once again attracting traders seeking quick profits.

Whale Activity on the Rise

Whales as Another Driving Force Behind Dogecoin’s Growth
Another factor contributing to Dogecoin’s revival is the rise in whale activity—large holders of the cryptocurrency. Over the past week, whales have accumulated more than 2.07 billion DOGE, the highest amount since January. This accumulation demonstrates growing confidence among traders in the token’s future. In the past, large whale purchases have often preceded significant price movements, serving as an indicator of upcoming market trends. One analyst noted that whales don’t make such large purchases unless they expect future price growth.

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