Dogecoin whales are accumulating, and DOGE's 'parabolic surge' is imminent...

Dogecoin has repeated its bullish fractal from 2021, with whales pouring in, and Elon Musk's influence has sparked speculation of an 85% rebound.

The price pattern of Dogecoin is similar to its behavior before the 8,000% rise in 2021, raising speculation of another significant breakout in the coming weeks.

The price of Dogecoin (DOGE) has rebounded 480% from its August lows, including a 220% rebound after Donald Trump won the presidential election in November.

Notably, after the recent parabolic rebound, DOGE is trading in a narrow range between $0.39 and $0.48, marked with a red circle in the above image. This consolidation phase reflects the integration phase at the beginning of 2021 when Dogecoin experienced a strong rise followed by a sideways consolidation trend, leading to another significant breakout.

If history repeats itself, DOGE may initially target $0.75, as indicated by the January 2025 Fibonacci retracement prediction, reflecting an 85% price surge.

Addresses holding 1 million or more DOGE now hold 130.2 billion DOGE, a record high. The increase in whale address supply indicates that large investors are becoming increasingly confident in Dogecoin's upward trajectory.

During the 2021 rebound, the supply of DOGE held by whale addresses also saw a similar boom, rising from 110.3 billion to 112.5 billion.

Elon Musk's influence continues to play a key role in driving Dogecoin's performance and the growth in whale demand. During the 2020-2021 rebound, Musk frequently tweeted in support of meme coins, which helped drive their prices significantly higher.

Technically, the DOGE/USD daily chart shows the formation of a bullish flag. A bullish flag is a pattern characterized by two rebounds with a brief consolidation period in between.

Once validated, DOGE's price could rise to $0.60. In a highly bearish scenario, the value of the meme coin may approach the $1 mark.

However, if the price falls below the downward trendline of that mark, this prediction could become invalid. A decrease in the number of new Dogecoin holders could also lead to a price decline. In this case, DOGE could drop to $0.33. #加密市场反弹 $BTC