Dogecoin (DOGE) continued to demonstrate strength Tuesday following a crypto-market-wide resurgence led by Bitcoin. At press time, the top meme crypto was trading at $0.105, reflecting an impressive growth of just over 4% in the past 24 hours.
Notably, this surge is partially being fueled by growing optimism around Dogecoin, with data from crypto analytics platform IntoTheBlock showing a significant increase in whale activity. Investors holding over 10 billion DOGE have surged by 50% in the past month, signaling potential accumulation during the market downturn.
This move by large players suggests they are positioning themselves for a bullish run, a trend that could also inspire increased buying from retail investors.
Meanwhile, analysts are also weighing in on DOGE’s potential, sharing bullish insights based on the DOGE chart. Among them, analyst “Dimaports36” forecasted a potential surge for DOGE, projecting that it could reach as high as $10 with the potential to surge to $36 once it crossed the “yellow line” in his chart. He argued that Dogecoin’s relatively low price compared to other top 10 cryptocurrencies makes it more accessible to a broader audience, a factor he believes could significantly drive its price to new heights.
Elsewhere, popular analyst “Masked Trader,” also hinted at a massive upcoming rally tweeting that “Something HUGE is about to happen to Dogecoin.” Notably, the pundit pointed the MACD nearing a bullish crossover and the price tightening on a 2-month chart, which suggests that DOGE is primed for a substantial breakout. According to his analysis, once Dogecoin surpasses the $1 mark, it could trigger a massive surge, with the potential to reach between $20 and $50 per coin.
“[This] chart is PRIMED for a face-melting PUMP. Whole Crypto market would be crying once DOGE breaks $1 that they didn’t get into these prices,” he emphasized.
Adding to this optimism, another analyst, “Master Knobi,” predicted that DOGE could soon “eliminate the zero after the comma,” a pattern he notes has occurred every four years in alignment with Bitcoin’s halving cycles.
He further emphasized that Dogecoin, with its strong brand recognition and support from influential figures like Elon Musk, is well-positioned for significant gains. According to his analysis, DOGE has the potential to increase by another order of magnitude, possibly reaching $6.9 in the upcoming bull cycle.
“DOGE cutting a ZERO every 4 years. Don’t say I didn’t tell you. This is most likely the last time we’ve seen ZERO after the comma,” he tweeted.
Meanwhile, popular crypto analyst Javon Marks shared a short-term bullish outlook for DOGE, predicting a 513% rise to $0.6533. He pointed out that DOGE’s RSI is nearing a breakout point, suggesting a hidden bullish divergence that could trigger a major upward movement.
