Dogecoin price poised for 30% rally as whales drive buying pressure
Dogecoin price might be impacted by Elon Musk
Dogecoin, the popular dog-themed cryptocurrency, has once again captured the spotlight as large investors, known as "whales," recently acquired 140 million DOGE tokens.
The buying spree, noted by prominent crypto analyst Ali Martinez, has injected fresh optimism into the market, suggesting a potential price surge of up to 30%, according to Coingape.
The accumulation comes amid heightened speculation around Dogecoin’s possible role in Elon Musk’s anticipated X Money platform. This payment system, which aims to integrate cryptocurrency features similar to China’s WeChat, is expected to launch later this year.
While official confirmation remains pending, the possibility of Dogecoin’s inclusion has invigorated both retail and institutional interest in the asset.
Market Dynamics Signal Potential Gains
Dogecoin’s price has already shown signs of responding to the whale activity, with an intraday rise of roughly 2%, trading at $0.3861 at press time. Despite its recent volatility, analysts believe the cryptocurrency remains undervalued.
Since reaching its low in September, Dogecoin has surged 365%, yet analysts argue it still has room for growth. The recent whale purchases reinforce this sentiment, creating additional buying pressure that could propel the coin’s price further.
As market participants closely monitor these developments, Dogecoin’s trajectory will depend not only on speculative interest but also on broader adoption initiatives like X Money.
For now, the meme coin’s resurgence underscores the significant influence of whale investors and its continued relevance in the evolving cryptocurrency landscape.
Mishaboar, a prominent Dogecoin (DOGE) developer, recently called on the Phantom Wallet team to add support for DOGE. He made this appeal in a post on the social media platform X.
