In recent months, there has been a noticeable increase in Dogecoin accumulations, particularly among large investors, sparking discussions in the crypto community.
Whale Accumulation of Dogecoin
Over the past month, Dogecoin whales have accumulated more than 1 billion tokens, indicating a renewed interest in this meme-based cryptocurrency.
Market Activity Surge
In addition to token accumulation, there is an increase in on-chain activity. The number of active Dogecoin addresses has surpassed 127,000, indicating high user engagement with the network.
Analysts' Predictions
Analysts predict potential price increases for Dogecoin. One expert suggests DOGE could reach at least $1 by early June 2025. Others note that historically, DOGE prices tend to rise around U.S. presidential elections.
The increase in accumulation and market activity may signal a potential price rise for Dogecoin. Analysts continue to monitor factors that could impact the market.
