Dogecoin Whales Make a 270M DOGE Accumulation Splash as Analysts Eye Upside Potential

Over the past week, the crypto market has been thrown into uncertainty as the Federal Reserve doused liquidity projections for 2025.

As the crypto market continues to experience turbulence, with the Federal Reserve's announcement regarding liquidity projections for 2025 impacting asset prices, Dogecoin (DOGE) has been among the worst hit.

However, a recent analysis suggests that a class of investors may be anticipating an end to the price downturn.cryptanalyticAccording to an X post on Tuesday, December 24, by prominent crypto analyst Ali Martinez, data from Santiment Feed reveals that whales with holdings ranging from 10,000,000 DOGE to 100,000,000 DOGE have been accumulating significant amounts of the meme coin.

Over the past four days, these whales have acquired a total of 270 million DOGE, valued at approximately $90.4 million at current prices. Notably, crypto whale activity is often observed to preempt market movements. In this instance, the whale accumulation hints at a potential bounce in DOGE's price.

Indeed, the meme coin has already shown signs of recovery, with a 27% gain from the lows over the past two days, currently trading at $0.33317. This recent whale activity aligns with several analysts' perspectives on DOGE's price potential.Dogecoin Whales Buy the Dip as DOGE Price Drops by Half: What's Next for the Meme Coin?Dogecoin Whales Buy the Dip as DOGE Price Drops by Half: What's Next for the Meme Coin?

Is DOGE Still Primed for a Mega Rally? Several Analysts Chime In

In light of DOGE's recent price correction, several analysts have suggested that the meme coin's price still has the potential to continue rising. Among those expressing this view is Ali Martinez.

On Monday, December 23, Martinez suggested that DOGE may be following a pattern from its 2017 and 2021 runs, targeting a potential price of up to $18. Both instances saw the meme coin experience parabolic rallies after initially correcting by around 50% from triple-digit percentage gains.

DOGE's recent correction saw it drop about 46% from highs of $0.48434, following a over 400% surge. Another analyst, Elemento Cripto founder Javier Santini shared a similar perspective on Monday, albeit setting a more conservative price target of $4.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect Cryptopolitan’s opinion.