Dogecoin (DOGE) is experiencing increased activity as the altcoin season approaches. Experts predict a growth onset with Donald Trump's inauguration on January 20, 2025.
Crypto Whales Buy 1 Billion DOGE
A wave of DOGE purchases is observed among long-term holders and whales, who have accumulated 1 billion coins over 7 days. This raises buying pressure and may lead to further price growth, which has already reached 27% according to CoinMarketCap.
DOGE Price Momentum
Currently, DOGE is trading near $0.39, showing a price increase of over 2.50% in the last 24 hours. Additionally, investor and trader activity has risen, reflecting a 12% increase in trading volumes. Positive market sentiment is also seen for Bitcoin and Ethereum.
Technical Analysis and DOGE Prospects
Analysis indicates that DOGE is consolidating in a narrow range between $0.375 and $0.398 over the past three days. Should the price break above $0.40, a 44% rise to $0.57 is anticipated. The market's optimism could help DOGE achieve this target.
Dogecoin receives substantial support from crypto whales and traders ahead of the expected altcoin season. Technical indicators suggest a potential significant price increase.
