Dogecoin Whales Buy 200 Million Coins: $0.50 Soon?
According to prominent cryptocurrency analyst Ali Martinez, Dogecoin (DOGE) whales have purchased 200 million coins in the last 48 hours. The move shows growing investor sentiment around the memecoin. The purchase comes amid a market recovery, with most assets trading in the green zone.
Whales have bought 200 million #Dogecoin $DOGE in the last 48 hours! pic.twitter.com/vYSI3C2cUs
— Ali (@ali_charts) January 16, 2025Market Recovery Trend
The cryptocurrency market has regained some momentum. Bitcoin (BTC) has reclaimed the $101,000 level. The global crypto market cap has risen to $3.71 trillion. Dogecoin (DOGE) follows the resurgence trend as well.
The dog-themed memecoin has rallied 2.2%. in the last 24 hours, 17.6% in the weekly charts, 12.9% in the 14-day charts, and 374.8% since January 2024. Despite the rally, Doge is still down by 1.2% over the previous month.
Will Dogecoin Hit $0.50 Next?
DOGE may enter a rally over the next few days. Trump’s inauguration could trigger another market-wide rally. Trump’s pro-crypto stance will likely lead to a significant rise in investor sentiment. The President-elect has said that he wants to make crypto a national priority.
According to CoinCodex, DOGE’s price will consolidate around current levels till at least Mar. 24, 2025. The platform anticipates the asset to break out into a rally by late March. CoinCodex predicts DOGE to hit $0.50 on Mar. 27, 2025. The platform further anticipates the memecoin to hit a new all-time high of $1.03 on Apr. 15, 2025. Hitting $1.03 from current price levels will entail a rally of about 171.05%.
DOGE may also rally after the commencing of the Department Of Government Efficiency (D.O.G.E.) with Elon Musk and Vivek Ramaswamy at its head. The department was greenlit by Trump and will begin work very soon.
