Dogecoin Poised for Major Bull Run as Whale Activity Surges

Dogecoin’s growing whale activity and bullish momentum signal strong potential for a major rally.

Dogecoin (DOGE-USD) might be gearing up for an explosive price surge, potentially surpassing $20 in the current bull cycle, according to The Coin Republic. Analysts like Javon Marks and Ali Martinez are optimistic, pointing to strong historical trends and rising whale activity. According to Marks, Dogecoin’s previous bull runs saw sky-high gains—like the 90x surge in 2017 and 306x in 2021. If history repeats itself, DOGE could hit $20 or more in 2024.

Whale Activity Signals Growing Confidence

A major driver behind this optimism is the surge in whale activity. In just 24 hours, Dogecoin whales have made over $23 billion in transactions, marking a 41% increase in large-scale transactions. Such activity suggests that institutional investors and big players are showing increased confidence in the meme coin. On-chain data from IntoTheBlock highlights a notable spike, signaling a strong market presence.

Technical Indicators Point to Bullish Momentum

Technical indicators are also backing the bullish case for Dogecoin. After a recent price rebound from $0.3097 to $0.3283, key signals like the MACD (Moving Average Convergence Divergence) and BBP (Bull-Bear Power) are showing a bullish trend. As buying interest rises, analysts suggest that DOGE is on track for further gains, possibly breaking through the $20 barrier in the near future.

At the time of writing, DOGE is sitting at $0.3127.