Dogecoin has emerged as the top performer among the top 10 cryptocurrencies this week, rallying 23% as whale activity and technical patterns signal potential for further gains. The meme currency surged over 10% within 24 hours to reach $0.244 amid heightened market optimism.
Notably, large holders accumulated 230 million DOGE in a single day, reflecting strong market interest and fueling bullish momentum. This substantial accumulation underscores growing confidence in Dogecoin’s near-term trajectory among major investors.
Technical analysts highlight a double bottom pattern formation, historically indicative of impending upward trends. This pattern preceded Dogecoin’s monumental 26,000% rally in December 2020, drawing trader attention to possible similar breakout conditions developing currently.
The price surge is widely attributed to coordinated whale purchases and positive market sentiment, with traders increasingly targeting Dogecoin for volatility opportunities. Market participants are closely monitoring these developments for confirmation of sustained bullish momentum.