Dogecoin ($DOGE ) Price Forecast for February 2025 🚀
Dogecoin (DOGE) is drawing attention despite market uncertainty. Crypto whales have accumulated 560 million DOGE in the past week, signaling confidence in its future price movement. However, a major breakout has yet to occur.
Whale Accumulation Signals Confidence
A crypto analyst on X (formerly Twitter) noted that whales and long-term holders are actively accumulating DOGE following a recent sell-off. This suggests growing institutional interest in the asset.
According to Coinglass data, around $13 million worth of DOGE has been withdrawn from exchanges, indicating strong buying pressure. However, DOGE has yet to gain significant upward momentum.
Increasing Trader Interest
On February 1, 2025, intraday traders remain bullish. The DOGE Long/Short ratio stands at 1.05, reflecting strong sentiment. Additionally, trading volume has surged 35%, highlighting increased market activity.
Technical Analysis & Key Levels
DOGE is currently forming a bullish double-bottom pattern, which often signals an impending rally.
If DOGE maintains support above $0.31, it could see a 25% surge toward $0.415.
Currently, DOGE is trading at $0.33, down 0.25% in the past 24 hours.
Whale accumulation, rising trader interest, and technical signals all point to a potential breakout.
Conclusion
With strong accumulation and a bullish setup, DOGE appears poised for a potential upswing. Holding above $0.31 is crucial for confirming an upward move. Traders should monitor key levels before making trading decisions.
