Zinger Key Points
- Whale transactions in Dogecoin surged over the past four days, coinciding with the lowest short liquidations since late October.
- Traders forecast a potential 570% price increase, with one calling $1 a certainty.
Despite bearish price action, Dogecoin DOGE/USD has seen a significant uptick in whale activity, fueling speculation of an impending bullish phase among traders.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| Dogecoin DOGE/USD | $0.3167 | $46.7 Billion | -4.2% | -12.6% |
| Shiba Inu SHIB/USD | $0.00002171 | $12.8 Billion | -5.4% | -9.7% |
| Pepe PEPE/USD | $0.00001738 | $7.3 billion | -6.9% | -9.3% |
Trader Notes: Javon Marks highlighted historical patterns, suggesting Dogecoin could rise beyond the 1.618 Fibonacci Extension level, as it has in previous cycles. If this scenario repeats, DOGE could surge by 570%, reaching $2.28 or higher.
Crowtrades remains confident, declaring “$1 is a promise.”
Trader Tardigrade, another trader, observed consolidation patterns similar to those preceding Dogecoin's January 2021 pump. He predicts that January 2025 could mark another explosive breakout.
Statistics: Coinglass data shows Dogecoin's short liquidations of $845,000 are the lowest since Oct. 25.
Crypto chart analyst Ali Martinez noted in a post on X on Wednesday that whales purchased 270 million DOGE over the past four days. This raises curiosity among traders if significant whale movement implies an upcoming bull run for the meme coin.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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