Dogecoin whales accumulated 200 million coins in just two weeks
DOGE price increased nearly 25% in two weeks, rising from $0.15 to $0.19
Analysts predict significant growth potential in DOGE’s third cycle, with some forecasting up to 1,160% price increase
Futures Open Interest (OI) soared 6%, reaching $1.94 billion, with derivatives volume rising 16% to $4.09 billion
Technical indicators suggest continued bullish momentum with key resistance at $0.21
Dogecoin has seen a wave of buying activity in recent weeks as whale investors accumulated 200 million coins over just 14 days. This buying spree has helped push DOGE price up nearly 25% from $0.15 to $0.19 since March 11.
The meme cryptocurrency is currently trading at $0.19, up about 5% in the last 24 hours. This price movement comes amid rising market interest and analyst predictions of major gains ahead.
Crypto market analyst Ali Martinez revealed the whale accumulation data in a recent post on X. These large purchases have reinforced positive market sentiment despite the broader crypto market experiencing price volatility.
Whale activity often signals growing market interest in a cryptocurrency. When large holders buy in bulk, it typically creates buying pressure that can drive prices higher due to increased demand.
The recent price action has aligned with these whale movements. DOGE bottomed at $0.1825 and peaked at $0.1955 in the past day, showing strong momentum.
Weekly performance has been even more impressive with 14% gains. This aligns with the massive buying that has taken place over recent days.
Market analysts are increasingly bullish on Dogecoin’s prospects. One analyst known as ‘Trader Tardigrade’ stated that DOGE price is completing the final stage of ‘cycle 3,’ which based on historical patterns could lead to a major upswing.
Some experts are making bold predictions about DOGE’s third cycle potential. Analysis of previous price patterns suggests the possibility of up to 1,160% growth from current levels, which could take the price above $2.28 or even higher.
Derivatives markets also show growing enthusiasm for Dogecoin. Futures Open Interest has increased 6% to reach $1.94 billion, while derivatives trading volume rose 16% to $4.09 billion according to Coinglass data.
These metrics indicate rising trader interest in DOGE’s future price movement. Higher open interest and volume typically suggest more market participants are placing bets on the asset’s direction.
Technical indicators support the bullish case. The Chaikin Money Flow (CMF) stands at 0.19, indicating positive money flow into Dogecoin. Meanwhile, the MACD has crossed above its signal line, often considered a buy signal.
Dogecoin’s market capitalization has now crossed $28.67 billion with a trading volume of $1.54 billion. The ratio of market cap to trading volume is 5.37%, suggesting active trading and good liquidity.
DOGE currently faces resistance near $0.21, which represents a key level for continued upward momentum. Breaking through this barrier could open the path to $0.22 and potentially $0.25 in coming months.
If bearish pressure emerges, support levels exist at $0.17 and $0.15. These would likely be tested if market sentiment reverses.
Beyond speculation, Dogecoin has evolved from its meme origins to find real-world applications. Its low transaction fees and fast block times have made it useful for online purchases and tipping.
The cryptocurrency continues to gain acceptance among merchants, increasing its utility beyond investment purposes. This growing use case helps support its long-term value proposition.
Dogecoin’s strong community and ongoing development efforts contribute to its staying power in the crypto market. Unlike many speculative assets that fade away, DOGE has continued to adapt and find new applications.
The broader crypto market environment also supports Dogecoin’s rise. As Bitcoin and Ethereum gain ground, DOGE often follows the overall market sentiment.
For traders watching DOGE, the next psychological resistance level is near $0.30. Reaching this target would represent a 60% increase from current prices.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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By Nermeen Nabil Khear 
