Dogecoin Inches Higher Today (March 6, 2025) – Analysts Predict a 5X Surge Ahead!

Jakarta, Pintu News – Dogecoin DOGE->Current DOGE PriceRp 0Market Cap-Trading Volume-Circulating Supply- is back in the spotlight among crypto traders and investors, following reports that whales have recently accumulated a staggering 180 million coins.

Top market analysts revealed on Wednesday (March 5, 2025) that this massive accumulation took place amid wider market fluctuations, signaling potential bullish sentiment for DOGE.

Then, how is the current Dogecoin price movement?

Dogecoin price rises 1.32% in 24 hours

On March 6, 2025, Dogecoin (DOGE) saw a 1.32% increase over the past 24 hours, trading at $0.2073 (approximately 3,374 IDR). During this period, DOGE reached a daily high of 3,392 IDR and a low of 3,217 IDR.

At the time of writing, Dogecoin’s market cap stands at around $30.76 billion, with trading volume dropping 29% to $1.39 billion within 24 hours.

Read also: Ethereum Hits $2,269 Today (March 6, 2025) – Massive Whale Dumping 40,000 ETH!

Market Optimism for Dogecoin

According to Ali Martinez’s post on X on March 5, Dogecoin (DOGE) whales have bought around 180 million coins in the last 24 hours. This data shows that the accumulation occurred while the Dogecoin price was fluctuating around the $0.2 per coin level.

An increase in the amount of accumulation by whales signals increased market interest, indicating the potential for significant price gains. Moreover, this activity also reflects a ‘buy-when-down’ sentiment amid broader market volatility.

Causes of Market Wide Turbulence

According to Coingape (5/3/25), on the weekly and monthly price charts, Dogecoin (DOGE) shows a 6% and 19% decline respectively. This decline can be attributed to the market chaos in February triggered by macro pressures and liquidity constraints.

The new import tariffs imposed by Donald Trump on China, Canada, and Mexico, which began on March 4, have fueled speculation of a trade war.

Read also: Bitcoin Surges to $91,000 Today (March 6, 2025) – Are BTC Buyers Taking Full Control?

As a result, global markets came under pressure, with the price of Bitcoin BTC->Current BTC PriceRp 0Market Cap-Trading Volume-Circulating Supply- falling from a high of $99,000 to a low of $78,000, which was then followed by a drop in the price of other altcoins, including Dogecoin (DOGE).

Dogecoin Analysis and Predictions from Top Analysts

A number of prominent crypto analysts have expressed bullish views towards Dogecoin (DOGE). The analyst known as ‘Trader Tardigrade’ recently revealed that the Dogecoin price is following ‘Mean Reversion on macro charts.’

This phenomenon shows that prices tend to revert back to their long-term historical averages over time.

In addition, the analyst also highlighted that Dogecoin’s daily candle closed with a ‘Dragonfly Doji pattern,’ which signals that the price is currently at the bottom of a downtrend and indicates a possible reversal in price direction.

On the other hand, renowned trader ‘Chandler’ revealed on the X platform that DOGE’s MVRV ratio once formed a bearish divergence against the price in a previous cycle. However, this pattern has not occurred in the current cycle, opening up optimistic opportunities for future price movements.

Read also: Dogecoin Price Prediction: Is DOGE on Track for a $4 Surge? Here’s What Ali Martinez Predicts!

In addition, market expert CryptoELlTES also shared his analysis on X, mentioning that the DOGE price is preparing for a 5x increase.

Investor optimism is getting stronger, supported by increased DOGE whale activity as well as the formation of a solid technical pattern.

Overall, with the increasing chances of Dogecoin ETF approval and market analysis showing a potential 5-fold price increase, market sentiment towards Dogecoin (DOGE) is increasingly optimistic.

Investors and analysts alike are looking forward to institutional adoption through ETFs that could push the Dogecoin price to its peak in 2025.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coingape. Dogecoin Price Eyes 5x Rally as DOGE Whales Bag 180M Coins. Accessed on March 6, 2025