12.02.2025 15:12
Dogecoin (DOGE) has shown a volatile performance in recent weeks, while analysts predict that a significant rally is on the horizon. In particular, the heavy buying by whales and Elon Musk's interest in DOGE are attracting the attention of investors. So, is a rise on the way? Here are the price predictions for Dogecoin (DOGE)...
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Will DOGE rise?
Dogecoin, the largest meme coin by market capitalization, has shown a volatile performance in recent weeks. Despite recording a five percent increase on a daily basis, its price is currently twenty percent below the levels of a month ago.
Currently, DOGE is trading in the range of $0.25 - $0.26. According to popular X user KALEO, this range is a "perfect buying zone."
Other notable analysts include Ali Martinez and Trader Tardigrade. Ali Martinez suggested that the meme coin is in an upward trend and could reach a new peak of $4 with this momentum.
Trader Tardigrade, on the other hand, stated that Dogecoin is currently "in the middle of the DOGE season" by analyzing its previous cycles. According to him, the peak of this upward phase could be around $2.20.
Whale movements and the D.O.G.E. effect
One of the significant factors that could affect Dogecoin's price is the movements of whales. Last week, large investors accumulated millions of DOGE, reducing the circulating supply and demonstrating their confidence in the asset. These large purchases could also lead smaller investors to enter the market.
Additionally, the "Department of Government Efficiency (D.O.G.E.)" led by Elon Musk is also noteworthy. This agency was established to reduce government spending and increase efficiency. However, since its abbreviation is the same as the meme coin, Dogecoin supporters believe that this connection could positively reflect on the coin.
Last month, after the Dogecoin logo appeared on the agency's official website, the price of DOGE showed double-digit increases. The logo was later removed, but similar developments in the future could again affect DOGE's value.
On the other hand, Elon Musk's interest in Dogecoin is well-known. Musk frequently praises the meme coin, and these comments can influence DOGE's short-term price movements.
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