- Dogecoin whales acquired over 120 million DOGE despite the market downturn.
- Analysts forecast a potential rally to $4.5 or even $5.
- Holding $0.139 remains critical for Dogecoin’s future market direction
According to Crypto analyst Ali Martinez revealed that Dogecoin whale investors purchased more than 120 million DOGE during the recent week. Despite the market’s downturn, Large meme coin holders continue to accumulate their assets . This suggests a potentially bullish outlook for DOGE in the near future. Analysts have even suggested a possible price rally for Dogecoin, eyeing a rise to $4.5.
Trader Tardigrade, another crypto expert, has analyzed the coin’s 20 Simple Moving Average (SMA). According to his findings, DOGE is on the cusp of entering its parabolic phase. Should this prediction hold, Dogecoin’s price could rally as high as $4.5, surpassing its all-time high.
Analysts Provide Bullish Price Targets for Dogecoin
In addition to Martinez’s findings, other analysts have shown optimism regarding Dogecoin’s potential price movement. Crypto Elites, for instance, predicted that Dogecoin could surge as high as $5. This outlook further supports the idea that the meme coin may see substantial growth in the coming months. If these projections materialize, DOGE could even break its current all-time high of $0.73.
An even more ambitious forecast comes from DOGE CAPITAL, who predicted a potential rally to $80. This extraordinary price target stems from historical trends that suggest Dogecoin could continue to rise significantly over time.
Holding the Line at $0.139: A Critical Support Level
Amid these predictions, analyst Kevin Capital pointed out the importance of Dogecoin holding a key support level. Analytical experts consider $0.139 as a major demand indicator that could help the market rebound after DOGE created such a candle in the weekly charts. DOGE needs to sustain its current level for the coin to maintain its upward movement.
According to Kevin Capital traders should consider DOGE deals both safe and lucrative provided it maintains position above $0.139. The 3-day MACD, weekly Stochastic RSI, and 2-week Stochastic RSI are close to resetting, further signaling a potential shift in momentum. As long as the price stays above this critical support zone, analysts suggest that the upside potential far outweighs the downside risk.
