Data-Backed Discipline Is Starting to Win in a Market Where Emotion Often Outweighs Logic

In a market where emotion often outweighs logic, data-backed discipline is starting to win. From Dogecoin's whale-driven momentum to Ripple's ETF-fueled regulatory traction

In the dynamic realm of cryptocurrency, where narratives frequently weave magic and institutions are incrementally entering the scene, two familiar tales are unfolding once more. As Dogecoin (CRYPTO: DOGE) experiences a surge following a period of sustained accumulation by major investors, and Ripple (CRYPTO: XRP) hits a milestone with 10 active ETF applications, a deeper narrative is emerging.

While these stories highlight the role of large-scale buying activity and ETFs in cryptocurrency, a subtler yet more critical shift is unfolding. It’s the pivot from emotional, speculative decision-making to a more strategic and data-backed approach to investing.

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Dogecoin (CRYPTO: DOGE) price has displayed a strong tendency to react to major investor activity, and current trends suggest that this playbook is unfolding once again. Recent on-chain data from Chains.monks indicates that large-scale "whale" wallets have accumulated over 900 million DOGE in a mere three days.

This massive buying spree has sparked renewed bullish sentiment, as similar movements in the past have often been followed by significant rallies in DOGE.

With DOGE recently breaking through the $0.20 level, the market is now keenly focused on the cryptocurrency's next psychological barrier.

Despite short-term volatility, the sustained accumulation phase by top holders at lower price points attests to the increasing confidence in a longer-term uptrend for DOGE.

Analysts are monitoring signs of sustained volume and momentum to test the $0.30 zone. Moreover, with macro-level bullish cycles usually signaling potential 0s in price, the possibility of DOGE reaching $1 isn't a meme-driven fantasy but rather a technical scenario.

Those watching the big picture will recognize that we're still in the early stages of a new bull market cycle.

What's Next For Dogecoin (CRYPTO: DOGE) PriceThis time last year, Dogecoin (CRYPTO: DOGE) price was trading at around $0.10 and faced significant selling pressure as broader crypto market trends shifted.

Now, a year later, DOGE is knocking on the door of $0.25 again. But is there anything interesting to note on the charts?

Dogecoin (CRYPTO: DOGE) price action over the past 12 months. Credit: Benzinga Pro

Dogecoin (CRYPTO: DOGE) price is currently testing the 2023 high, which was hit back in June. A breakout above this level could open the way for a move to the 2021 all-time high near $0.70.

Beyond this, there isn't anything massively interesting to point out on the charts. Perhaps some volume traders will be interested to know that the volume profile shows a key level of resistance at around $0.22, where there was a large volume node hit back in November 2022.

But overall, the chart is showing a clear uptrend with no real signs of exhaustion yet.

What Could Drive The Next Leg Of Dogecoin (CRYPTO แ :DOGE) Price Up+?Several factors could drive the next leg of Dogecoin (CRYPTO: DOGE) price up.

Firstly, a continuation of the recent buying activity by major investors, known as "whales," could propel DOGE to new highs.

Recently, large-scale investors have been accumulating huge amounts of DOGE, and historical trends suggest that such movements are often followed by significant price surges.

Secondly, the approval of an ETF (exchange-traded fund) for investing in cryptocurrencies could spark a massive influx of institutional investment into cryptocurrencies, thereby driving up prices across the board.

Institutions prefer investing in ETFs due to the specific tax implications and reporting requirements. An XRP ETF, in particular, is a hot topic with 10 applications currently pending.

Finally, any positive developments in the regulatory front could also create a bullish impact on Dogecoin (CRYPTO: DOGE) price.

Recently, there has been a shift in leadership at the SEC, with Paul Atkins now appointed as chair, replacing Gary Gensler. This change is generally viewed favorably by the crypto sector.

Additionally, the SEC dropped its lawsuit against Ripple earlier this year, which is another positive development that could affect the approval chances of an XRP ETF.

According to Bloomberg analysts, there is a 65% chance of an XRP ETF being approved by October 18, 2025.

Keep On Rolling: Dogecoin (CRYPTO: DOGE) ETF Could Spark Huge Rally, Says AnalystBenzinga - Countless crypto fans have been following the saga of Spark Token (CRYPTO: SPARK) throughout 2024. The token, distributed to holders of crypto exchange platform Coinbase (NASDAQ:COIN) (NASDAQ:COIN) in January, has