$DOGE Dogecoin has also entered a historically strong buy zone, signalling that a big breakout could be underway.
The Dogecoin price has soared 8% in the past 24 hours, hitting $0.223 as whale activity ramps up and momentum builds across the meme coin space.
DOGE is now up 8.5% on the week, 30% over the past month, and a massive 123% in the past year, showing powerful long-term strength that continues to outpace expectations.
Technical analysis suggests DOGE may be sitting at the very beginning of a major breakout, with the potential to push toward new all-time highs as bullish sentiment floods back into the market.
With the broader crypto rally gaining speed and Dogecoin still leading the meme coin narrative, the setup points to a very bullish long-term Dogecoin price prediction – one that could surprise even the most optimistic holders.
✨Dogecoin Price Prediction: Biggest Whale Buy Since 2024 – Could This Be the Smart Money Signal?
Analyst Ali Martinez has tracked a considerable increase in whale accumulation in recent days, with large investors accumulating 1 billion DOGE in the 24 hours leading up to August 6 (Wednesday).
In fact, Martinez followed up this post with another earlier this morning, showing that whales are still at it, having bought 230 million DOGE in the past 24 hours.
This is hugely bullish for DOGE, since even with some big buys earlier in the week, whales still have an appetite for the meme token.
It has benefitted from the market-wide rally today, which in turn appears to have followed from yesterday’s news that Ripple has acquired stablecoin platform Rail for $200 million.
While this news is obviously of direct relevance only to Ripple and XRP, it was the major catalyst in today’s rally, with prices following XRP’s aggressive surge.
As such, demand is higher across the board, and this includes demand for Dogecoin, which is enjoying a boost in momentum.
As its chart shows, its indicators are rising quickly from oversold levels, with its relative strength index (yellow) touching 70 today.
Its MACD (orange, blue) has also very recently turned positive, with the indicator having more space to rise before it enters an overbought position.
This is very encouraging for Dogecoin, which has also seen its trading volume double in the past couple of days, from $1 billion to just over $2 billion.
And some analysts are predicting a big medium- and long-term push, with Ali Martinez suggesting yesterday that it’s trading in “a historically strong buy zone.”
The Dogecoin price could therefore hit $0.30 by the end of the month, and higher toward $1 by the end of the year.
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