The ongoing DOGE accumulation in recent days attracts attention. This situation, together with the observed increase in DOGE price, may herald a potential increase in the price of the meme coin in the coming periods. Additionally, well-known market experts increased optimism by predicting that the cryptocurrency could reach $0.2 soon.
Whale Purchases Stimulate the Market
According to data shared by IntoTheBlock, Dogecoin 
$0.112776 There has been a heavy purchase of whales lately. This development created optimism in the overall meme coin industry, and the notable double-digit increases in meme coins confirmed this. DOGE, on the other hand, stands out with its potential for further rise above the key level of $0.105.
Latest data shows that major DOGE whales have accumulated 2.07 billion coins in the past week alone. This data is the highest weekly accumulation recorded for DOGE since January of the year. Whales also seem hopeful about the last quarter.
Expert Analyzes and Future Expectations
Famous crypto market analyst Ali Martinez predicts in his latest post that the price of meme coin could rise above $0.2 levels. Martinez identified a promising setup in the meme coin’s price movements, stating that it could be a harbinger of a potential bull trend.
“The DOGE chart resembles past breakout moves, indicating a significant uptrend ahead.” –Ali Martinez
Martinez highlighted the multi-year falling triangle breakout, followed by a 200% rally and a 60% pullback. Dogecoin (DOGE) has followed this pattern in the past, rising. After another 65% pullback, Martinez thinks the meme coin could be ready for the next significant rally.
Currently, DOGE price is trading at $0.112, up 1.69%, and its one-day trading volume is up 103.1% to $700.54 million. DOGEE hit a high of $0.1152 and a low of $0.1095 in the last 24 hours. Additionally, DOGE Futures Open Interest increased by approximately 5% to $554.1 million.
This activity and some analyzes specific to DOGE confirm the potential of the cryptocurrency to reach $0.2. In addition, the recent intense purchases by large investors show how the demand for Dogecoin has revived.
In summary, intense purchases by Dogecoin whales create a positive atmosphere in the cryptocurrency market, while expert analyzes feed optimism about DOGE’s future price movements. For investors, these developments can be considered promising indicators of the potential rise of Dogecoin.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
