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Dogecoin Faces 500% Surge or 40% Drop as Whales Accumulate

Coin WorldSunday, Apr 20, 2025 6:40 pm ET

1min read

Investors in Dogecoin received mixed signals this week as market analysts disclosed varying forecasts regarding the future price action of the meme cryptocurrency. Some analysts predict a spectacular rally, while others forecast a sharp decline before any potential rally.

Crypto commentator “Steph is Crypto” predicts that Dogecoin is poised for an epic price surge exceeding 500%. This estimate is based on a chart pattern observed during a preceding market cycle, during which Dogecoin surged 501% after trending down in the last few weeks. Steph tweeted on social media site X, implying that the same pattern is developing again following another 129-day downtrend. If this trend holds, Dogecoin could rise as much as $0.73583 within the next few weeks.

Not everyone agrees with this optimistic view. An alternative prediction from SwallowAcademy on TradingView suggests that Dogecoin may first see a dramatic fall before it can go up. Their study of the price action of Dogecoin relative to Tether (USDT) indicates a possible 40% drop to the $0.09 support level. SwallowAcademy’s analysis observes that following a brush with close to $0.23 earlier this year, Dogecoin dropped to $0.09 before rising above $0.45. The analyst foresees the same trend happening, with a sharp drop followed by a four times jump that might ultimately retest the $0.45 level. When this report was made, Dogecoin was trading above $0.15.

Market intelligence company IntoTheBlock’s data shows dramatic shifts in the behavior of Dogecoin holders. Long-term holders who owned the cryptocurrency for more than a year fell by 2.67% last month. Medium-term holders (one to 12 months) fell by nearly 12%. Meanwhile, short-term traders with holding time of less than one month rose by over 100%. This radical movement toward short-term speculation might signify greater price volatility since these traders will respond rapidly to changes in the market.

Perhaps the most dramatic statistics come from monitoring large holder transactions. Large holder inflows increased by over 5% in the last week, as reported by IntoTheBlock. On a longer term basis, these inflows were up 324% in the last 30 days. This increase in whale activity indicates significant investors may be setting themselves up for future price action even though daily trading continues to be dominated by smaller, short-term traders.

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