This article discusses the optimistic outlook for Dogecoin (DOGE) during the upcoming altcoin season. Experts believe that the bull run for DOGE will begin after the inauguration of Donald Trump's government in January 2025. The article highlights that long-term holders, whales, and retailers are accumulating DOGE, with whales adding 1 billion DOGE in the past seven days. This accumulation has led to a price gain of over 27% for DOGE. The market sentiment for DOGE and other major assets like Bitcoin and Ethereum is bullish, attracting intraday traders and increasing open positions. However, some long-term holders are dumping their holdings, resulting in an inflow of $18 million worth of DOGE to exchanges. Despite this, the significant accumulation suggests that it may not lead to a price decline. Technical analysis suggests that if DOGE breaks the current consolidation pattern and closes above $0.40, it could potentially rise by 44% to reach $0.57. Overall, the market sentiment is positive, and there is confidence in DOGE's potential for future growth.
- Content Editor ( coinpedia.org )
- 2025-01-06
Time to Buy DOGE? Whales Buy 1 Billion Meme Coins