2025-1-4 17:01 |
Dogecoin (DOGE) witnessed a strong price uptick on Friday, marking a three-day bullish streak following a recovery from its December 20 low of $0.26. This resurgence comes amidst heightened whale activity and a brightening outlook for the cryptocurrency in 2025.
Notably, the top meme coin has faced significant volatility over the past month. DOGE experienced a remarkable 400% rally from October to November, climbing to $0.50 as investor sentiment surged. However, a subsequent market correction in early December led to a steady decline, highlighting the asset’s susceptibility to broader market trends.
Despite these fluctuations, whale activity has remained a critical factor influencing Dogecoin’s price movements, particularly this week’s surge. On Friday, January 3, popular crypto analyst Ali Martinez reported that whales accumulated over 1.08 billion DOGE within 24 hours.
This follows the pundit’s earlier observation of significant accumulation by these entities earlier in the week. After a sharp price drop in mid-December and subsequent stabilization toward the end of the month, the pundit highlighted on Tuesday that “Whales bought over 300 million DOGE in the past 24 hours.” This activity suggests that large-scale investors might strategically position themselves for anticipated price movements in 2025.
That said, the outlook for Dogecoin in 2025 appears increasingly optimistic, driven by multiple factors. The growing adoption of DOGE for real-world transactions has solidified its utility, moving beyond its origins as a meme coin. Additionally, the cryptocurrency market is expected to benefit from regulatory clarity, mainstream institutional adoption, and improved macroeconomic conditions.
Fueling the bullish outlook, speculation about Elon Musk’s continued support for Dogecoin remains a driving force behind the excitement. Musk has previously teased the possibility of enabling DOGE payments for Tesla products, which could significantly boost the token’s adoption. Notably, Tesla updated its payment methods last May to include Dogecoin, marking a step toward the asset’s growing mainstream acceptance.
Adding to the optimism, Musk’s social media platform, X, is expected to launch its payment system, X Money, in 2025. Earlier this week, X CEO Linda Yaccarino confirmed this development, noting that the feature is slated for release this year, sparking speculation that X Money could potentially include DOGE.
Elsewhere, technical analysts have shared bullish predictions for Dogecoin’s future performance. In a recent tweet, an analyst known as Trader Tardigrade highlighted a “double bottom” pattern on DOGE’s daily chart, signaling a potential breakout. “Dogecoin hit a local bottom and is set to reach new highs soon,” the analyst noted.
Similarly, recently, Martinez expressed optimism, predicting that DOGE could surpass $12.00 by late 2025, a scenario reminiscent of its explosive 14,500% rally in 2021, when the token surged from $0.005 to $0.73.
At press time, DOGE was trading at $0.34, reflecting a 2.36% increase in the past 24 hours.
origin »Dogecoin (DOGE) на Currencies.ru
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