- Dogecoin (DOGE) continues its rally, surging 10% in the last 24 hours. Analysts predict a potential climb to $1 by mid-April, fueled by historical trends and a rise in “DOGE millionaires.”
- This activity suggests growing investor interest and could propel Dogecoin to a $100 billion asset within a month.
Dogecoin (DOGE), the world’s leading memecoin, continues its impressive run, surging another 10% in the last 24 hours. Currently priced at $0.1669, DOGE boasts a market capitalization of $23.93 billion. This recent price movement adds to the already significant 108% gain DOGE has seen over the past month, sparking excitement among investors and analysts alike.
Analyst Predictions: Dogecoin Poised for a $1 Target?
Renowned crypto analyst Ali Martinez has made a bold prediction for Dogecoin, suggesting it has the potential to reach $1 by mid-April based on historical trends. This would be a monumental milestone for the memecoin, propelling it into the ranks of a $100 billion asset within a month. Martinez draws his prediction from the parabolic rallies DOGE experienced during previous bull runs.
Another prominent crypto trader, Altcoin Sherpa, shares a similar sentiment, also targeting $1 for DOGE. Altcoin Sherpa is keeping a close eye on two key resistance levels – $0.20 and $0.35. Their optimistic outlook highlights the promising chart pattern, suggesting an upward trend after a 650-day period of volatility.
DOGE Whale Transactions on the Rise
Adding fuel to the fire, data analysis by IntoTheBlock reveals a significant rise in “DOGE millionaires” – addresses holding at least $1 million worth of Dogecoin. This surge, particularly noticeable since late February, is driven by an influx of investors in the $1 million to $10 million range, often categorized as “sharks” or smaller whales in the crypto market. As a result, the total count of these high-value holders has surpassed 800, signifying a growing interest from major investors in the Dogecoin ecosystem.
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Further intrigue surrounds a previously dormant Dogecoin wallet that recently sprung back to life after 10.2 years. This wallet, currently holding approximately $120,000 worth of DOGE, transferred a small amount (100 DOGE) to another address, leaving investors to speculate on the motivations behind this sudden activity.
Dogecoin’s Price Rollercoaster: A Look Back
Dogecoin’s recent journey has been a rollercoaster. It nearly reached the $0.2 mark on March 5th before experiencing a correction that saw prices plummet to $0.13. However, the past 24 hours have witnessed a rebound with a 30.2% increase, followed by a slight pullback, with DOGE currently stabilizing around $0.1574.
