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DogeCoin Whales Out & About!!
Dogecoin is back in the spotlight, as recent whale activities and a flurry of bullish projections have reignited hopes for a major breakout above the elusive $0.20 mark.
Over the past seven days, large holders have accumulated an impressive 100 million DOGE, sparking widespread speculation of a pending rally.
The move comes amid rising optimism from both retail investors and institutional voices, including a surprising endorsement from 21Shares, a leading crypto research firm and ETP issuer.
A recent post by JustDoIt on CoinMarketCap summarized the sentiment succinctly:
“Dogecoin is gaining momentum as whales accumulate 100M DOGE$ in 7 days. Bullish signals suggest a potential breakout, with some predicting a move to $0.20 and beyond, with a long-term target of $5.”
Although a $5 target may seem overly ambitious to some, there is growing consensus that DOGE’s future may be brighter than many originally thought.
21Shares published a detailed research note on April 30, arguing that Dogecoin has matured into more than just a meme.
The firm asserted that DOGE is now “a smart addition to your portfolio,” and presented data-backed models demonstrating improved returns and Sharpe ratios when a traditional 60/40 portfolio is supplemented with modest DOGE exposure.
According to the study, even a 1% allocation to DOGE could increase average annual returns to 8.95%, with manageable drawdowns.
More importantly, the research outlined three scenarios for Dogecoin’s price trajectory.
In the bearish case, a modest 10% annual gain from its 2021 peak would land DOGE at $0.38 by 2025.
The neutral scenario, assuming Dogecoin retains its memecoin leadership with a smaller market share in a $5 trillion crypto market, would value the token around $1.
In the bullish case, 21Shares projected DOGE could reach $1.42 if it replicates its historic compounded growth, driven by renewed memecoin mania, real-world utility, and platform integration, particularly with Elon Musk’s X.
