- Dogecoin whales have acquired 470 million DOGE, valued at $155 million, a sign of growing confidence.
- Over 1 billion DOGE was purchased in a week, highlighting major buying activity.
- Analyst Javon Marks predicts a potential 120% increase if Dogecoin breaks its descending wedge pattern.
Large-scale Dogecoin investors have ramped up their activities and acquired a staggering 470 million DOGE, valued at approximately $155 million. The significant move comes as analysts observe bullish recovery patterns in the cryptocurrency, sparking speculation of a possible price rally.
Ali Martinez, prominent crypto analyst sharing news from January 11 to X, highlighting recent whale activity. According to Martinez, these large investors, known as “whales,” have resumed accumulation, signaling growing confidence in the cryptocurrency’s prospects.
Whales target key price zones
The accumulation trend was highlighted through charts focused on wallets holding between 10 million and 100 million DOGE. These wallets began adding significant amounts of Dogecoin in early January 2025, following a period of relative stability until the end of December 2024.
Another notable crypto analyst on X, identified as CEO, highlighted this buying frenzy, revealing that over a billion DOGE was purchased in a single week. Martinez’s chart also reveals that significant purchases of Dogecoin occurred in the price range between $0.314 and $0.355.
Previously, the cryptocurrency reached highs above $0.4 in 2024 but faced a sharp correction, settling near $0.3. These price movements presented an attractive buying opportunity for whales and other savvy investors looking to capitalize on future growth.
Dogecoin poised for 120% surge
Recent whale activity coincides with bullish signals in the broader Dogecoin market metrics. Crypto analyst Javon Marks pointed out the formation of a descending wedge pattern in Dogecoin’s chart. This pattern is usually associated with price reversals or continued upward trends.
Marks explained on January 9 that the cryptocurrency’s positioning in this pattern indicates that it could break out soon, potentially set the stage for a new upward rally. A breakdown of this structure could cause the value of Dogecoin to rise significantly, aligning with bullish market indicators.
Rose Premium Signals, another market expert on X, echoed this sentiment, describing Dogecoin macro charts are aligning with strong support zones and long-term Fibonacci levels. The cryptocurrency appears to be consolidating near these areas, paving the way for potential price growth.
Marks predicts that Dogecoin could see a 120% price rise if it breaks out of the descending wedge pattern. This rally could propel the token from its current price of $0.33 to a new all-time high of $0.739. Such projections have intensified investor interest, further amplifying the buzz surrounding the meme-inspired cryptocurrency.
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