Whales boost Dogecoin (DOGE) by 21%, is the $1 mark within reach?
On January 3, blockchain data showed that whales spent $413 million to frenzy buy over 1.08 billion DOGE, significantly reducing selling pressure. Dogecoin surged 21% this week, reaching a peak of $0.39, far ahead of competitors like Shiba Inu and Pepe.
Predictions have the market eagerly anticipating a $1 price by 2025. Dogecoin's historical average return in January has reached 83.9%, and while the current sentiment is optimistic, the trend remains cautious. Binance transferred 399.9 million DOGE ($144.9 million) to private wallets, showing positive signs.
Whales have purchased over 1.08 billion DOGE in the past 24 hours.
As of the time of writing, Dogecoin (DOGE) is trading at $0.3875, down 0.65% in the past day, but up 21.28% over the past week.
By 2025, Dogecoin's price is expected to reach $1, increasing by 170%, with a market cap of $100 billion. More explosively, President-elect Donald Trump has announced the establishment of a new agency — the Department of Government Efficiency (DOGE), to be led by Elon Musk and Vivek Ramaswamy.
Notably, the growing community interest plays a significant role. By 2025, Dogecoin is expected to knock on the door of $1, aligning with public optimistic expectations, attracting the attention of cryptocurrency traders and enthusiasts alike. In summary, with such developments, memecoins are likely to continue rising, gradually approaching the $1 target.
