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    Dogecoin (DOGE) Price: Analyst Predicts 200%+ Rally as Whales Accumulate Over 1 Billion DOGE

    Whale Accumulation Fuels Dogecoin’s Steady Recovery and 200%+ Rally Forecast
    Newton KitongaBy Updated:No Comments3 Mins Read

    TL;DR summary:

    • Dogecoin (DOGE) has rebounded 40% since its March low of $0.164, reaching $0.2299 by mid-May.
    • Over 1 billion DOGE has been accumulated recently by whales, signaling strong investor interest.
    • On-chain activity and futures market participation have surged, supporting bullish momentum.
    • Analyst predicts a potential 200%+ price rally for DOGE in the coming months.

    Dogecoin (DOGE) has continued to show strength, buoyed by a surge in whale accumulation and a sharp uptick in on-chain activity , developments that have reignited speculation of an imminent breakout.

    Following a rocky start to 2025 that saw prices plunge from $0.35 to a low of $0.164 in late March, DOGE has mounted an impressive comeback. By mid-May, the meme coin had rebounded to $0.2299, notching a 40% gain over the past month and signaling a potential shift in market momentum.

    According to analysts, this bullish momentum is mostly fueled by large-scale investors who have been quietly accumulating DOGE at an aggressive pace. Over the past month alone, these deep-pocketed holders have reportedly snapped up more than 1 billion DOGE as per a tweet by analyst Ali Martinez, a strong signal that big money is positioning ahead of a potential rally.

    Notably, this comes after the pundit revealed that over 800 million DOGE were purchased within a two-day window around April 15, marking the largest accumulation spree in recent months.

    Surging On-chain Activity

    Supporting this outlook is a noticeable spike in Dogecoin’s on-chain metrics. According to data from, there are currently more than 127,000 active addresses on the network, a figure that reflects growing engagement among users and developers. Transaction volumes have also surged, accompanied by a significant rise in futures market participation.

    Data from analytics firm Glassnode shows that Dogecoin’s futures open interest jumped nearly 64% in just one week, rising from $989 million to $1.62 billion. This dramatic increase, despite relatively modest price action, hints at speculative interest building behind the scenes.

    Bullish Optimism on The rise

    Technical analysts are also weighing in with bullish projections. Notably, crypto strategist Master Kenobi has identified a long-term price channel that DOGE has respected for nearly a decade. According to his analysis, the coin is poised to reach the $1 mark by June, with the possibility of climbing as high as $2.10 under optimal market conditions.

    “While I personally aim to exit below the psychological barrier of $1 for risk management, the long-term pattern suggests even higher levels are within reach,” Kenobi said.

    Meanwhile, analyst Javon Marks has gone a step further, predicting a minimum 215% rally based on Dogecoin’s historical price cycles. Marks believes that DOGE tends to perform well during U.S. election cycles, particularly around presidential inaugurations. With the 2025 inauguration approaching, he sees a familiar setup that could trigger explosive gains, similar to past rallies where the coin surged 30x or more.

    In the short term, chart analysts at Bitcoinsensus are eyeing a potential breakout within the next week. They point to a double-bottom pattern and a trendline retest as signs that DOGE could soon hit $0.42 to $0.43, offering traders a potential near-term upside.

    Investor sentiment also remains optimistic. The Fear & Greed Index currently shows “Greed,” indicating that confidence in the market is rising, even as the broader crypto landscape remains choppy.

    At the time of writing, Dogecoin is trading at $0.2299, up 1.90% in the past 24 hours.

     

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