Will Dogecoin Hit $10? Analyst Predicts 23x Growth Amid Whale Accumulation
Will Dogecoin Hit $10? Analyst Predicts 23x Growth Amid Whale Accumulation
Renewed accumulation by large DOGE holders indicates optimism regarding a potential target of $10.
Cryptocurrency sell-offs by miners remain a key risk to DOGE’s bullish trajectory and require close monitoring.
Dogecoin (DOGE), a pioneer in the memecoin space, has been consolidating following its explosive November surge. Analysts such as Trader Tardigrade and Ali Martinez predict that DOGE could rise to $10, reflecting a 23x price increase if historical trends persist.
As highlighted in a recent tweet by Trader Tardigrade, Dogecoin is expected to repeat its historical pattern, leading to massive growth.
Furthermore, Martinez based his prediction on a long-term ascending channel pattern, noting that DOGE historically peaks at the upper boundary of the channel during bullish cycles.
Whales and miners maintain key signals
Whales are showing renewed interest, with wallets holding between 100 million and 1 billion DOGE increasing their accumulation after a brief selling phase in late November. Similarly, wallets holding between 10 million and 100 million DOGE have steadily added to their positions, signaling strong confidence in future gains.
However, DOGE miners, who currently hold 1.22 billion DOGE valued at $5.4 billion, remain a potential risk. Historical selling by miners has coincided with market peaks, making their activity a critical factor to monitor.
Will Dogecoin hit $10?
As DOGE price consolidates, analysts warn that any repetition of sharp selling by miners could trigger a correction, urging holders to consider profit-taking. Despite this, whale accumulation and bullish projections maintain optimism, making DOGE’s path to $10 a possibility worth pursuing.
Dogecoin (DOGE) is currently trading at $0.4387, reflecting a 5.38% increase over the past day and a gain of 8.19% over the past week.
