TL;DR

Dogecoin's recent price rally has paused, but on-chain data suggests further price increases may be imminent. A significant factor is the over one billion DOGE purchased by whales in the last month.

Increased Activity

Crypto analyst Ali Martinez highlighted a surge in Dogecoin activity. This includes a substantial increase in active addresses, transaction volume, and, notably, whale activity. He considers these "bullish signals that could support further upside."

Bitcoin's price performance in 2025 demonstrated the importance of rising active addresses and transaction volumes. Its price drop in February, March, and early April coincided with a decline in activity, before recovering past $100,000.

Martinez reported that whales accumulated over one billion DOGE in the past month alone. At the current price (approximately $0.225), this represents over $220 million in DOGE.

Dogecoin's Future Price

Dogecoin's price fell sharply in early 2025, bottoming out at $0.13 in early April. After consolidating around $0.16, it experienced a significant price increase starting May 8th, reaching $0.26 on May 11th before encountering resistance. The price has since declined by 13.5%. Martinez suggests a successful breach of a key resistance level could trigger a new bull run.

Crypto Thies anticipates a period of consolidation, potentially retesting the $0.20-$0.21 support level. If this support holds, a price increase to $0.30 is considered probable.