Can DOGE Go Up Again? Whale Analysis with Bitrue

2025-10-07

Dogecoin is once again making waves in the crypto market. After months of quiet trading, the world’s most popular meme coin has shown signs of life, driven largely by renewed whale activity.

Massive inflows into wallets holding millions of DOGE have sparked speculation that another rally could be underway.

Yet, amid the growing optimism, investors should tread carefully, especially since Dogecoin’s fundamentals remain uncertain and even the project’s whitepaper on some sources is inaccessible.

Whale Activity and Market Reaction

Recent data shows that Dogecoin whales, those holding between one and ten million DOGE, have significantly increased their holdings. According to leading crypto analyst Ali Martinez, large wallets accumulated an additional 30 million DOGE, valued at roughly $7.5 million, within a single weekend.

Such moves often attract attention across the crypto space because they can signal strategic positioning for an upcoming price move.

In the past week, Dogecoin has climbed around 12%, reflecting growing confidence among traders. Whale accumulation typically serves as a precursor to bullish sentiment, suggesting that influential players expect higher prices ahead.

This renewed enthusiasm aligns with broader market optimism as institutional interest in digital assets appears to be strengthening once again.

Many investors have started rebalancing portfolios in anticipation of the next crypto market uptrend, and DOGE, given its community-driven nature, often becomes an early beneficiary of such sentiment.

However, caution remains necessary. Whale activity doesn’t always lead to sustained rallies. Sometimes, large holders buy to trigger short-term reactions, only to sell later into retail-driven price spikes.

The memecoin market is particularly prone to volatility, meaning price surges can reverse just as quickly. That’s why analysts recommend watching trading volumes and overall market liquidity rather than whale wallets alone.

Technical Signals and Market Trends

Technically speaking, Dogecoin’s chart has been on an upward trajectory for several months. From a swing low of around $0.06 to highs nearing $0.49 in late 2024, the coin has already posted gains of more than 700% over two years.

The recent structure shows higher highs and higher lows, forming what analysts call an ascending price channel, often a sign of continued bullish momentum.

Indicators also point to a strengthening market. The Relative Strength Index (RSI), a key momentum gauge, recently crossed above the 14-day moving average and has climbed beyond the mid-line, an early buy signal for some traders.

If DOGE manages to break above its current resistance zone, analysts suggest a potential retest of $0.49 could occur, followed by an attempt toward the symbolic $1 mark. This projection, though ambitious, isn’t impossible given the right mix of macroeconomic and market conditions.

Speaking of which, the broader environment may soon turn more favourable. The Federal Reserve’s potential interest rate cuts could inject new liquidity into the crypto markets, historically benefiting speculative assets like DOGE.

Moreover, with altcoin season seemingly underway, led by strong performances from coins such as Binance Coin (BNB), which rose from $700 to $1,200 within months, Dogecoin could ride the same wave of renewed investor appetite.

But investors should remember that meme coins like DOGE don’t always follow traditional valuation models. Their price movements are heavily sentiment-driven, and while charts can provide clues, they can’t predict community psychology.

Comparing DOGE with Other Altcoins

Dogecoin’s strength has often been its community and branding rather than its technological edge. While Bitcoin and Ethereum offer established utility and network effects, DOGE thrives primarily on viral moments, celebrity endorsements, and the collective enthusiasm of its supporters.

Recently, alternative meme projects such as Maxi Doge ($MAXI) have emerged, reflecting a growing appetite for playful yet high-risk crypto investments.

But before considering any new tokens, it’s worth noting that even DOGE, one of the oldest meme coins, still lacks a clear development roadmap. As mentioned earlier, parts of its documentation, including its whitepaper on some portals, remain inaccessible.

Such opacity warrants caution. Always verify information before committing funds, and use trusted platforms like Bitrue for secure trading and market research.

Compared to competitors like Shiba Inu (SHIB) and Pepe (PEPE), Dogecoin has a longer market history and broader recognition. This longevity has helped it remain among the top-performing meme coins despite market downturns.

However, SHIB’s ecosystem growth, including decentralised exchanges and staking features, shows how other meme projects are evolving beyond speculation.

In contrast, DOGE’s progress remains relatively slow, relying more on sentiment than on tangible upgrades. Whether this simplicity will remain a strength or a weakness depends on how the market values legacy over innovation.

From an investment perspective, diversification is essential. Whales may continue to accumulate DOGE, but traders should avoid assuming that large purchases automatically translate to price rallies.

The same dynamics that lift DOGE could just as easily fuel other assets. By comparing performance data and liquidity trends across multiple tokens, investors can better assess where the strongest opportunities lie.

Conclusion

Dogecoin’s latest surge has reignited excitement across the crypto world. Whale accumulation, positive technical indicators, and improving macro conditions all point toward potential upside. However, caution remains essential.

The lack of transparent documentation and the coin’s heavy reliance on sentiment make it a risky asset to predict with certainty. As always, investors should perform due diligence, stay alert to changing trends, and use reputable exchanges for analysis and trading.

FAQ

Why is Dogecoin rising again?

Whale accumulation and renewed market optimism have pushed DOGE higher, but investors should remain cautious due to volatility.

Could Dogecoin reach $1?

Analysts believe a break above $0.49 could open the path toward $1, but this depends on broader market support and investor sentiment. Track levels on Bitrue.com.