Dogecoin Whales Accumulate 120 Million DOGE; is a Rally to $4.5 Imminent?
Jakarta, Pintu News – The cryptocurrency market is heating up again after analysts reported massive whale buying of Dogecoin in the past week. More than 120 million DOGE were accumulated by large wallets, signaling high confidence in the price’s upside potential.
Dogecoin is now said to have skyrocketed to IDR 74,556 (equivalent to $4.5), far surpassing the previous record price.
This move reinforces DOGE’s position as one of the most dynamic and desirable crypto assets amidst a resurgent market.
Whale Accumulating, DOGE Ready to Break $4.5?
In a post on X, crypto analyst Ali Martinez revealed that Dogecoin whales have bought more than 120 million DOGE over the last week.
Read also: Dogecoin price rose slightly today (3/24/25): Whale Buys 120 Million DOGE, What Does It Mean?
They continue to actively accumulate despite the market’s downward trend. This gives a positive (bullish) outlook for Dogecoin, which is currently expected to rise to $4.5 (Rp74,556).
In another X post, crypto analyst Trader Tardigrade noted that the 20 Simple Moving Average (SMA) indicator shows various phases in DOGE’s price movement history.
The chart he included shows that this major meme coin is preparing to enter a parabolic phase in the current bull market cycle, and could jump up to $4.5 when that phase begins.
DOGE Price Potential to Reach $5? Analysts are Optimistic
Some analysts are making even more ambitious projections. Crypto Elites predicts that Dogecoin has the potential to break the psychological mark of $5 or around Rp82,840.
According to him, the appeal of DOGE as the largest meme coin in the market is still very strong, and market volatility provides an opportunity for the next price spike.
Furthermore, DOGECAPITAL analysts expressed an ultra-bullish view with fantastic targets: Dogecoin could reach Rp1,325,440 ($80).
He attributes this projection to DOGE’s historical pattern of experiencing extreme spikes in a short period of time, especially when community momentum and market sentiment combine.
Critical Support Zone: DOGE Should Survive at IDR2,304
Although the long-term outlook is promising, some analysts warn that Dogecoin should still hold at the key support area around IDR2,304 ($0.139).
Kevin Capital analysts highlighted that this zone is the last frontier of bull market support before the trend can reverse. If the DOGE loses this area by the weekly close, many traders will probably start offloading their holdings.
Read also: Canary Capital proposes PENGU ETF: Token Combinations, NFTs, and New Hope for Crypto
However, if this level is able to be maintained, the risk-reward potential is considered very favorable. Kevin mentioned that technical indicators such as the weekly Stochastic RSI and 3-day MACD are approaching their full reset points, paving the way for the next upward movement.
He also added that as long as the price of Bitcoin does not drop below Rp1,159,760,000 ($70,000), Dogecoin’s outlook remains positive.
Overall, the action of the crypto whales and the support of technical indicators make Dogecoin one of the most attractive assets currently in the cryptocurrency world. While there are still risks from market volatility, the upside potential for DOGE prices is huge, especially if the current support zone is maintained.
Crypto investors, both retail and institutional, are now waiting to see if Dogecoin can really make history and surpass its previous ATH (All Time High). One thing is for sure-this gem coin hasn’t lost its fangs.
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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 Whales Accumulate Over 120M DOGE As Price Eyes Rally To $4.5. Accessed March 24, 2025.
