Is Dogecoin Mooning? Whales Scoop 200M DOGE—$3 Next?

In the last 48 hours DOGE whales have accumulated 200 million coins. Whale activity is often a leading indicator of price moves...

Written by: Arslan Butt • Friday, January 17, 2025 • 1 min read

• Last updated: Friday, January 17, 2025

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In the last 48 hours DOGE whales have accumulated 200 million coins. Whale activity is often a leading indicator of price moves so this is a good sign for DOGE.

Analyst like, Ali Martinez, thinks this is a precursor to a price pump with a target of $3 for Dogecoin.

DOGE is holding above the $0.36 resistance. If this trend continues analysts think we’ll see $0.40 or higher with growing whale interest and overall demand.

Dogecoin’s Path to $3: Key Resistance Levels

To continue the bullish trend DOGE needs to break through several resistance levels starting with $0.40. If it can get above this it could open up to $0.45 with long leveraged positions and increasing volume.

DOGE/USD

But if it can’t hold above $0.36 we could see profit taking and leveraged positions being liquidated and price corrections. Despite the risks, historical trends are pointing to a big breakout for Dogecoin like we saw in January 2021.

Key resistance levels to watch for DOGE:

$0.36 – Critical support level
$0.40 – First major resistance
$0.45 – Potential breakout target

Dogecoin Price Chart - Source: Tradingview — Dogecoin Price Chart – Source: Tradingview

Bullish Sentiment Backed by Market Recovery

The overall cryptocurrency market is recovering and that’s boosting Dogecoin sentiment. Daily volume is up 18% and above $4 billion. Retail and institutional investors are buying. Chaikin Money Flow and RSI are also looking good if DOGE can hold support.

DOGE is currently at $0.3769 up 17% in the last 7 days. Market cap is $55.64 billion and 24 hour volume is $4.19 billion up 7%. This is getting more and more bullish with the event coming up on January 20 and meme coin momentum.