Dogecoin (DOGE) Whales Eye Buy-the-Dip Opportunities Amid Market Interest, Analysts Predict Price Surge to $3

The world's largest meme coin Dogecoin (DOGE) has been in a bearish momentum for the past few days dropping from the highs of $0.47 all the way to $0.37.

Dogecoin (DOGE) price has been closely monitored by crypto enthusiasts and investors alike, especially following the massive whale transactions that were reported on December 10, 2024. As per the report from Whale Alert, over 61 million DOGE, valued at around $23.5 million, were moved from an unknown wallet to the Robinhood platform. This was followed by another transfer of nearly 85.4 million DOGE, worth approximately $32.9 million.

These large-scale transfers by DOGE whales have sparked speculations regarding the potential price movements of the meme coin. In the last 24 hours, significant transfers by DOGE whales have attracted attention. As per the report from Whale Alert, over 61 million DOGE, valued at around $23.5 million, were moved from an unknown wallet to the Robinhood platform. This was followed by another transfer of nearly 85.4 million DOGE, worth approximately $32.9 million.

🚨 🚨 85,430,198 #DOGE (32,932,934 USD) transferred from unknown wallet to #Robinhoodhttps://t.co/0ABSHbbxBY

— Whale Alert (@whale_alert) December 10, 2024

These massive whale transactions for DOGE coincide with growing market interest thereby signaling potential Dogecoin price movements from here onwards. Whale activity is often seen as a precursor to market shifts, particularly when large sums are moved to exchanges.

Following the large-scale DOGE whale transactions, crypto market analysts have shared their predictions for Dogecoin. Popular analyst Ali Martinez has stated that DOGE is still in the early stages of a bullish cycle. The analyst anticipates the DOGE price to surge to $3 in the current bull cycle while extending his long-term projections to as high as $18.

Martinez’s prediction is based on the weekly chart’s regression channel, indicating that Dogecoin still has the potential for upward momentum. However, he adds that market fluctuations may occur before these price targets are achieved.

What Does the DOGE Price Technical Chart Suggest?

The technical analysis highlights a potential bullish breakout for Dogecoin. Crypto analyst Trader Tardigrade notes that DOGE recently broke out of a Symmetrical Triangle pattern, a formation often associated with bullish trends. Notably, the breakout has not been followed by a significant pullback, suggesting sustained upward momentum.

If Dogecoin retraces to the triangle’s upper boundary, around $0.44— as observed today—it could offer a buying opportunity for investors aiming to ride the next phase of the rally. Tardigrade projects that DOGE’s price could climb to $0.65, representing a potential 50% gain from current levels.

He also anticipates that DOGE could peak between $8 and $10 before undergoing a potential retracement, which might present another entry opportunity for long-term investors, reported CNF. From its current price of approximately $0.39, a surge to $3 would mark an impressive 630% gain, offering an attractive prospect for those aiming to capitalize on Dogecoin’s growth trajectory.

Meme coins have been on the radar throughout this year, with Dogecoin and others giving significant returns to investors. One of the top-performing meme coins is PEPE Coin (PEPE), which has given multi-fold returns in the last few weeks and has climbed the ranks to become the third-largest meme coin by market cap.