Dogecoin Surges 25% in Two Weeks as Whales Accumulate 200 Million Coins

Dogecoin (DOGE) has experienced a significant surge in price, rising nearly 25% over the past two weeks. This price increase, from $0.15 to $0.19, has been driven by substantial buying activity from large investors, commonly referred to as whales. These whales have accumulated over 200 million DOGE coins within a short span of 14 days, demonstrating a strong confidence in the cryptocurrency's potential.

This buying spree has reinforced positive market sentiment, despite the broader crypto market experiencing price volatility. The recent price action has shown strong momentum, with DOGE bottoming at $0.1825 and peaking at $0.1955 in the past day. The weekly performance has been even more impressive, with gains of 14%. This aligns with the massive buying that has taken place over recent days.

Market analysts are increasingly bullish on Dogecoin’s prospects. One analyst, known as ‘Trader Tardigrade,’ stated that DOGE price is completing the final stage of ‘cycle 3,’ which, based on historical patterns, could lead to a major upswing. Some experts are making bold predictions about DOGE’s third cycle potential. Analysis of previous price patterns suggests the possibility of up to 1,160% growth from current levels, which could take the price above $2.28 or even higher.

Derivatives markets also show growing enthusiasm for Dogecoin. Futures Open Interest has increased, while derivatives trading volume has risen. These metrics indicate rising trader interest in DOGE’s future price movement. Higher open interest and volume typically suggest more market participants are placing bets on the asset’s direction.

Technical indicators support the bullish case. The Chaikin Money Flow (CMF) stands at 0.19, indicating positive money flow into Dogecoin. Meanwhile, the MACD has crossed above its signal line, often considered a buy signal. DOGE currently faces resistance near $0.21, which represents a key level for continued upward momentum. Breaking through this barrier could open the path to $0.22 and potentially $0.25 in coming months.

Beyond speculation, Dogecoin has evolved from its meme origins to find real-world applications. Its low transaction fees and fast block times have made it useful for online purchases and tipping. The cryptocurrency continues to gain acceptance among merchants, increasing its utility beyond investment purposes. This growing use case helps support its long-term value proposition.

Dogecoin’s strong community and ongoing development efforts contribute to its staying power in the crypto market. Unlike many speculative assets that fade away, DOGE has continued to adapt and find new applications. The broader crypto market environment also supports Dogecoin’s rise. As Bitcoin and Ethereum gain ground, DOGE often follows the overall market sentiment.

For traders watching DOGE, the next psychological resistance level is near $0.30. Reaching this target would represent a 60% increase from current prices. If bearish pressure emerges, support levels exist at $0.17 and $0.15. These would likely be tested if market sentiment reverses.