Dogecoin Surges: Whales Drive 2 Billion DOGE into Expectation

Dogecoin (DOGE) has shown significant movement following a market correction at the start of the week. As whales amassed 2 billion DOGE over the past 48 hours, experts emphasize the potential for the price to surge by 195% or even up to 800% towards its historical peak.

Scenarios for Dogecoin’s Price Surge

Cryptocurrency analyst Javon Marks highlights Dogecoin’s long-term trend, suggesting that the price could gain over 195% in value and break past the $0.73905 level. Marks bases his prediction on previous sharp rallies occurring under similar market conditions.

Another analyst under the pseudonym Bitcoin Consensus has stated that DOGE has experienced rallies of 300% and 500% in past cycles. The current formation indicates a potential 800% rally. The memecoin‘s price is reportedly supported by an ascending trendline, with a target around $1.30.

Recently, DOGE has been trading horizontally within the $0.236 – $0.244 range but maintained stability despite market fluctuations. Investors are closely watching, especially since surpassing the $0.244 resistance could signal a new movement.

Dogecoin ETF Developments and Whale Accumulations

One of the most notable developments boosting expectations for Dogecoin is the activity surrounding ETF markets. Following the recent launch of DOGE ETF (DOJE) by Rex-Osprey and the inclusion of 21Shares’ application on the DTCC list, approval probabilities have increased. The SEC’s potential acceptance of cryptocurrency ETF standards indicates an accelerated process.

According to leading prediction platform Polymarket, the likelihood of a spot Dogecoin ETF being approved by year-end has risen to 99%. The approval probability, which increased by 22% in the past month, has drawn significant investor interest towards the memecoin, despite broader market turbulence.

Analyst Ali Martinez reports that major investors have purchased 2 billion DOGE in the last 48 hours. These whale accumulations reveal that large investors are strongly positioning themselves in the memecoin with expectations of price rises.

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