Why is Dogecoin surging today?
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Dogecoin (DOGE) starts off strong in 2025: Whale activity and technical signals drive gains
Dogecoin (DOGE) got off to a strong start in early 2025, with a price surge of nearly 15% to $0.39. This rebound not only reflects the recovery of market sentiment, but is also driven by whale activity and a surge in trading volume, providing potential for DOGE's future gains.
Main driving factors
Whale activity:
The rise of Dogecoin is mainly driven by huge purchases by whales. According to analyst Ali Martinez, there have been large transactions recently, with 1.08 billion DOGE being purchased, which shows strong confidence in the future of DOGE. This shows that many big players in the market have optimistic expectations for Dogecoin.
Trading volume surge:
Dogecoin's 24-hour trading volume increased by 190%, a surge that indicates active buying and selling in the market, especially whale buying, which has led to tight supply and demand. Despite the outflow of about $35 million, market sentiment remains optimistic, with analysts believing that prices could rise by 22% in the short term.
Trump Inauguration Rumors:
There are also rumors that Dogecoin's price increase may be related to Trump's inauguration. Elon Musk's dual support (including support for Trump and Dogecoin) has become another reason for people to speculate on Dogecoin's future performance. This celebrity support may have further boosted the market's confidence in DOGE.
Technical Signals: Super Trend Indicator Turns Bullish
Super Trend Indicator:
According to well-known crypto analyst Crypto Surf, Dogecoin's 3-month Super Trend Indicator has turned bullish. This indicator has been bearish since January 2022 and did not turn positive until January 2025, indicating that Dogecoin may be entering a new bullish phase.
Historical Performance: The last time the Super Trend Indicator turned green was in April 2017, leading to a sharp increase of 5,587% in January 2018. In May 2021, this signal appeared again when the DOGE price reached $0.7390, an increase of 3,837%. If history repeats itself, Dogecoin may usher in another sharp rise.
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