Dogecoin to $24? Analyst Says DOGE Is Basically Ready For the Next Move
Cantonese Cat, a recognized cryptocurrency market analyst, has projected an extraordinary price target for Dogecoin, suggesting that the meme coin could rise to $24.
This ambitious forecast represents a potential gain of over 5,823% from current levels, fueled by technical indicators and recent whale activity.
Dogecoin has experienced mixed performance in recent weeks. After a sharp rally in early November that saw its price climb 132% in three weeks to $0.4800—marking a three-year high—the cryptocurrency has since retraced by 16%, currently trading around $0.4052.
Despite this pullback, optimism remains strong among analysts and investors.
According to Cantonese Cat, the asset’s recent price movements suggest the cryptocurrency is positioned for a significant breakout. The analyst highlighted that the token has successfully defended key support levels, particularly around the 0.786 Fibonacci extension.
Based on historical trends, Dogecoin followed a similar pattern during its 2021 bull cycle, when it rallied from this level to surpass the 2.272 Fibonacci extension, peaking at $0.73995.
Cantonese Cat predicts that Dogecoin could replicate this historical pattern and reach the same Fibonacci level at $24. If this target is met, the token’s market capitalization will exceed $3.5 trillion, solidifying its position as a major player in the crypto market.
Whale Accumulation Signals Growing OptimismIn addition to technical analysis, recent whale activity further supports the bullish outlook for the asset.
Market analyst Ali Martinez has observed significant accumulation among large holders, signaling increased confidence in the asset’s future potential.
Martinez shared data that whales holding between 10 million and 100 million DOGE purchased 160 million tokens, valued at approximately $64 million, within the last 24 hours. This accumulation has brought the total to 22 billion DOGE, worth around $9 billion.
Such large-scale acquisitions indicate strong market sentiment and often precede substantial price rallies. The willingness of high-value investors to buy during a dip suggests they anticipate a significant upward movement in the token’s price.
While the broader cryptocurrency market has shown bullish momentum, Dogecoin’s trajectory remains uncertain as it contends with critical resistance levels.
Nevertheless, analysts like Cantonese Cat and Ali Martinez believe the token is well-positioned for future growth, supported by historical trends and whale activity.
#DOGE #Dogecoin #memecoin #CryptoTrending #CryptoNews

10 trillion SHIB have now been traded in 24 hours, which has raised questions about market dynamics and investor interest.
Recent data indicates that over 10 trillion Shiba Inu (SHIB) tokens were transacted within a single day, largely due to the activities of whale investors.
While this figure seems impressive at first glance, it pales in comparison to historical transaction volumes seen during SHIB’s peak growth phases.
This discrepancy raises important questions about the current momentum of the asset and its potential for future recovery or growth.
Comparing Current Volumes to Historical Peaks
In previous bullish cycles, Shiba Inu consistently experienced transaction volumes exceeding 18 trillion tokens, particularly during periods of rapid price increases.
Such spikes in activity often signaled strong interest from major holders and a robust market trend.
Conversely, during bearish periods, transaction volumes typically dropped below 10 trillion tokens, reflecting waning enthusiasm and lower market engagement.
Currently, the transaction volume of 10 trillion tokens positions SHIB above the bearish threshold but still significantly below the levels that usually indicate a strong bullish trend.
This relatively subdued activity suggests that the market is neither witnessing substantial accumulation nor facing aggressive selling pressure, leaving SHIB in a precarious balance.
Price and Support Analysis
Chart analysis reveals that SHIB is hovering near a crucial support level.
Its recent bounce from the 50-day Exponential Moving Average (EMA) signals an attempt at recovery.
However, the current trading volumes do not support the level of market participation required to sustain a prolonged upward trend.
This mismatch between price movements and trading activity indicates limited momentum, putting the asset in a state of consolidation.
Market Sentiment and Whale Activity
Analytics from IntoTheBlock suggest that high transaction volumes often foreshadow significant market movements, typically reflecting increased activity from major stakeholders.
However, the current volume lacks the clear patterns of accumulation or distribution usually seen before major price shifts.
This moderate activity implies that SHIB may be at a critical juncture, where a sharp increase in transaction volumes—especially from whales—would be necessary for a bullish breakout.
Until such a catalyst materializes, the token is likely to remain stagnant in its consolidation phase.
Conclusion
Although the trading of 10 trillion SHIB tokens in one day is noteworthy, it does not indicate a decisive market shift.
The transaction volumes are well below historical highs, suggesting a lack of strong bullish sentiment.
For SHIB to reclaim its previous upward trajectory, renewed interest and significantly higher trading volumes will be crucial.
Until then, market participants may need to exercise patience as the asset waits for a more definitive catalyst to spur its next major move.

#SHIB $SHIB #memecoin

10 Trillion SHIB In 24 Hours. Here’s What Happened
Recent data reveals that over 10 trillion Shiba Inu tokens were transacted within 24 hours, primarily driven by whale activity.
While the figure appears substantial, it falls short of historical transaction volumes during SHIB’s peak growth phases. This raises questions about the current state of the asset’s market momentum and its prospects for recovery or growth.
Comparing Current Volumes to Historical Peaks
In previous bullish cycles, Shiba Inu saw transaction volumes significantly surpassing 18 trillion tokens, particularly during rapid price increases.
Such heightened activity often indicated strong interest from large holders and a robust market trend. By contrast, transaction volumes during bearish periods tended to dip below 10 trillion tokens, reflecting reduced enthusiasm and lower market engagement.
The current figure of 10 trillion tokens places the asset above bearish thresholds but still far from the volume levels that typically signal a strong bullish trend.
This subdued activity indicates that the market is neither experiencing significant accumulation nor facing aggressive selling pressure.
Price and Support Analysis
Chart data shows SHIB hovering near a key support level, with its recent rebound from the 50-day Exponential Moving Average (EMA) providing a sign of attempted recovery.
However, the current transaction volumes do not align with the levels of market participation needed to sustain a prolonged uptrend.
This disparity between price action and trading activity suggests limited momentum, leaving the asset in a state of consolidation.
Market Sentiment and Whale Activity
According to analytics from IntoTheBlock, high transaction volumes are often a precursor to notable market movements, reflecting heightened activity from major stakeholders.
However, the present volume does not display the clear patterns of accumulation or distribution that typically precede significant price swings.
This moderate activity indicates that the token may be at a critical juncture. A sharp increase in transaction volumes, particularly from whales, would be required to generate the momentum necessary for a bullish breakout. Until such a catalyst emerges, the token will remain in a consolidation phase.
Although 10 trillion SHIB tokens were exchanged in a single day, this figure lacks the significance to signal a decisive market shift. The transaction volumes remain well below historical peaks, reflecting a lack of strong bullish sentiment.
For SHIB to regain its former upward trajectory, renewed interest, and significantly higher trading volumes will be essential.
Until then, market participants may need to exercise patience as the asset waits for a more definitive catalyst to drive its next major move.
#ShibaInu #SHIB #memecoin #Altcoin #CryptoNews