Whales have accumulated more than a billion Dogecoin in the last 48 hours, raising expectations of a price increase.
The Dogecoin price is trading at $ 0.1198, down 5.5% in the last 24 hours, but has gained 12% in a week.
Dogecoin appreciated 18% in a month and 93% on an annual basis.
This increase in Dogecoin price was seen after whales increased token purchases. Last week, large investors bought more than 1.4 billion DOGE in 48 hours.
This signals that the meme token is expected to finish the year strongly and perform well in 2025.
Dogecoin Price Analysis: 1.4 Billion DOGE Purchase Raises Question Marks
The recent purchase of 1.4 billion DOGE by whales has caused confusion.
A phenomenon on X announced over the weekend that ‘a whale bought 1.4 billion Dogecoin in a post.
Dogecoin founder Billy Markus only responded to the post with ‘What?’.
However, the source of this claim seems to be a tweet by analyst Ali Martinez. Martinez shared Santiment data showing that major investors received 1.4 billion DOGE in 48 hours.
Such a large volume, which includes multiple transactions of multiple whales, shows that no single investor carried out the transaction.
Therefore, it can be thought that there is a big change in the DOGE market or a whale is preparing for a big rise.
On the other hand, even though the Dogecoin price has fallen today, there are reasons to be optimistic.
Looking at the chart below, it looks like it could recover after a tough few days.
The relative strength index (purple) fell to the oversold zone of 30 this morning. This means that investors are undervaluing the token.
DOGE’s 30-day moving average (orange) is falling towards the 200-day moving average. It may not be possible for the coin to see the bottom until this decline of the indicator ends.
On the other hand, Dogecoin’s trading volume is at $ 1 billion today, indicating that demand remains strong.
Therefore, with the market starting to recover, the DOGE price may soon start to rise.
The Dogecoin price could reach $0.2 by November and $0.4 by the beginning of the year.
High Potential New Meme Tokens
DOGE is expected to make gradual progress in the foreseeable future.
Investors looking for more gains may therefore turn to newer alternatives, including pre-sales.
Among these projects is Crypto All-Stars (STARS), an ERC-1.8 coin that received more than $20 million in investments in its presale.
Crypto All-Stars will launch MemeVault, a protocol where any meme token holder can stake their funds.
Crypto All-Stars can tokenise all cryptocurrencies, including those not on the Ethereum blockchain, using the ERC-1155 multi-token standard.
Thus, the project can spread to a very wide market. Another exciting point is that users who stake their meme coins to the protocol will earn more rewards the more STARS tokens they have.
In this way, STARS can see a great demand. Meanwhile, the maximum supply of the coin is 42,069.