NAIROBI (CoinChapter.com)—Dogecoin price has taken a hit, but whales are not backing down. A staggering 750 million DOGE has been scooped up amid the recent dip, fueling speculation of a massive price rally to $10.
Dogecoin suffered a 21% drop in the past week, falling below $0.30, according to CoinGecko. The price decline followed a broader market sell-off, with Bitcoin struggling to maintain key levels. Despite the downturn, large investors viewed the drop as an opportunity, purchasing 750 million DOGE worth nearly $200 million.
Dogecoin whales buy 750M DOGE during dip. Source: Ali Martinez/XCrypto analyst Ali Martinez highlighted the accumulation, noting that whale buying activity often precedes major price surges. According to Martinez, as long as Dogecoin price remains above $0.19, the conditions for a parabolic rally toward $10 remain strong.
DOGE Price Mirrors Past Rallies—Could a 6X Surge Be Next?
Analysts have observed striking similarities between Dogecoin’s current price movement and its previous bull cycles. Crypto commentator Master Kenobi pointed out that Dogecoin’s price movements have followed a predictable pattern, where major crashes are followed by rapid rebounds.
DOGE poised for 2017-style like surge. Source: Master Kenobi on XIn February 2024, Dogecoin surged 3X before experiencing a brutal correction. A similar rally in August 2024 saw a 6X increase, only for DOGE to crash again. The latest 57% drop closely resembles past patterns, leading some analysts to believe that Dogecoin price could be on the verge of another breakout.
If the August 5 fractal repeats, Dogecoin could be set for a 6X rally, taking the price beyond $1.25 in the coming months. This price level hasn’t been seen since Dogecoin’s 2021 all-time high, making it a critical psychological target for traders.
Dogecoin ETF Speculation Could Be the Game Changer
Beyond whale activity, ETF speculation is fueling bullish momentum. Grayscale recently launched a Dogecoin Trust, and a DOGE ETF proposal has been submitted to the New York Stock Exchange (NYSE). If approved, it would be the first-ever DOGE ETF, providing institutional investors with a regulated way to gain exposure to Dogecoin.
Dogecoin Nears $0.25 as Analyst Predicts Growth. Source: Kaleo/XData from Polymarket suggests that the probability of ETF approval in 2025 has risen to 54%. If successful, this could open the floodgates for billions of dollars in institutional investment, driving Dogecoin price higher.
Crypto giant BlackRock has shown strong interest in crypto ETFs, leading some analysts to speculate that Dogecoin could be next in line. If Bitcoin ETFs see a correction, some of that capital could shift into alternative assets like Dogecoin, accelerating its price growth.
Could DOGE Price Hit $10—Or Even $20?
Some analysts believe that Dogecoin’s biggest rally is yet to come. Crypto strategist Javon Marks compared Dogecoin’s past bull cycles and noted that its exponential growth trend has remained consistent.
Dogecoin cycles suggest potential 2024 bull rally. Source: Javon MarksIn 2017, Dogecoin surged 90X. By 2021, it skyrocketed 306X. If this pattern repeats, DOGE could see another 306X rally, sending prices above $20.
While such targets may seem extreme, Dogecoin has a history of defying expectations. With whale accumulation, ETF speculation, and historical growth trends aligning, some traders believe a breakout is inevitable.
The Bollinger Bands indicator suggests that a drop to $0.057 is possible if selling pressure continues. However, as long as Dogecoin price holds above $0.19, traders believe momentum could shift toward a bullish breakout.
If DOGE breaks above $0.30, it could confirm a trend reversal, pushing Dogecoin toward $1.25 in the short term. From there, if whale activity continues, analysts say the conditions for a long-term surge toward $10 or higher remain in play.
The post Dogecoin Whales Grab 750M DOGE—Analyst Sees Price Hitting $10 first appeared on Coinchapter.
The post Dogecoin Whales Grab 750M DOGE—Analyst Sees Price Hitting $10 appeared first on Coinchapter.
