Dogecoin (DOGE) Resurgence Sparks $1 Predictions as Whales Bet $200M on Breakout

Dogecoin (DOGE), the original memecoin, is drawing attention with its surging price up 10% on January 17 at $0.42 on the one-day chart.

Dogecoin (CRYPTO: DOGE) is grabbing attention with a 10% price surge on Jan. 17. The memecoin is trading at $0.42 on the one-day chart, displaying a bullish momentum.

The price action places traders on guard for a potential reversal of the current trend when it closes above the pivotal $0.40 barrier. This development follows consolidation between $0.30 and $0.45 since November 2024.

According to prominent crypto trader Daan Crypto, DOGE’s recent price movement is based on two clear accumulation phases between $0.30-$0.33.

At the beginning of 2025, we saw a swing failure pattern (SFP) for the memecoin, which briefly pushed the price below $0.40. A fast recovery above $0.35 has strengthened the bullish bias.

$DOGE Has retaken the important ~$0.35 price level.

This has held stronger on this second flush than most coins, where $BTC, $ETH and many others made new lows on this week's flush, DOGE made a nice higher low and trades back within its local range.

I would want to see this… pic.twitter.com/TUKoK4EzFq

“This second flush was stronger than most other coins,” Daan Crypto noted, referring to the resilience DOGE had shown compared to Bitcoin and Ethereum, which were creating new lows in the same period.

Whales Bet $200M on Dogecoin Breakout

The broader crypto market is gaining traction as traders anticipate heightened volatility ahead of U.S. President-elect Donald Trump’s inauguration.

Notably, Dogecoin has emerged as a standout “dino” coin, a term coined to describe older assets that outperformo newer tokens during market rallies. This status is supported by DOGE’s explosive 222% breakout in November 2024, reinforcing its potential as a market mover.

Santiment, a leading on-chain analytics platform, outlined that whales bought some $200 million worth of DOGE in the last 48 hours.

This trend shows the growing confidence among whales and major investors, further heating speculation in the market.

Whales have started to buy DOGE carefully again – Santiment data pic.twitter.com/6dIznN3iWj

Crypto analysts and influencers predict that DOGE will rise to the psychologically important $1 mark. WSB Trader, a pseudonymous market commentator, claimed the memecoin is more than 60% likely to reach $1 before the end of January, saying: “Don’t fade Elon Musk, the richest man, and Donald Trump, the most powerful man.”

Johnny, a prominent crypto investor with 785K followers, drew parallels between DOGE and XRP to point out how retail investors could drive the memecoin into a new breakout phase. “Once DOGE trends, it trends hard,” he said, emphasizing the growing buzz around the asset.

Dogecoin Resurgence Sparks $1 Predictions

Adding to the bullish case, technical analyst Mikybull also pointed to the appearance of a bullish pennant breakout, which suggested that DOGE’s price would soon surge toward $1.

What’s more, the forecast by the analyst comes in tandem with thought overwriting the trending sentiment that DOGE will regain its position among the best-performing cryptocurrencies.

$DOGE is breaking out as anticipated

$1 is looking prime right now 🚀🔥 https://t.co/JwWWDRZikC pic.twitter.com/fBP2iMID38

As the crypto market gains momentum, the resurgence of Dogecoin underlines its enduring appeal to retail and institutional investors alike.

With strong accumulation, whale activity, and a favorable technical setup, DOGE seems poised for another rally.

Whether the memecoin can continue upward to reach its $1 target is yet to be seen. Market participants are closely watching key support levels, hoping that Dogecoin’s latest rally marks the beginning of a new chapter in its storied history.

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