Surge in DOGE Price? Significant Accumulation by Whales Observed

The DOGE price has surged by 9% over the last 24 hours, reaching $0.4502 on a day when Bitcoin achieved a new all-time high.

Dogecoin has increased by 12% in a week and by 162% in a month, solidifying its status as one of the top meme coins to acquire at this moment.

Today, DOGE’s trading volume has also seen a significant rise as whales begin to accumulate the token again, similar to their actions following last month’s election.

It appears to be on track to hit $0.50 by year-end, while the first half of 2025 might see it reach whole numbers for the first time in its history.

$10 DOGE Price Surge? Whales Accumulate in Remarkable Numbers

Dogecoin’s trading volume is currently at $17.8 billion, which is nearly 3,000% higher than it was three months ago.

However, it has not yet reached the levels seen immediately after the US election, when it exceeded $44 billion.

Nonetheless, this indicates that the token is preparing for another upward movement, with whales purchasing DOGE in large quantities in recent days.

117,893,137 #DOGE (48,848,984 USD) transferred from #Binance to unknown wallet https://t.co/uGqgOmPTUY:

— Whale Alert (@whale_alert) December 2, 2024

This type of accumulation is evident in the token’s chart today, which has recently formed a golden cross.

As illustrated below, DOGE’s 30-period average (orange) has crossed above the 200-period average (blue) overnight.

This indicates a breakout, which Dogecoin (and several other major tokens) seems to have already initiated.

Source: TradingView

Its RSI (purple) rose to 70 earlier this morning, and after a decline, it is now climbing back towards 60, indicating that buying pressure remains robust.

If it can decisively surpass the $0.46 resistance level, it would have a strong likelihood of reaching $0.50 by the end of December.

Regardless, its long-term outlook continues to appear very promising, especially with longtime Dogecoin supporter Elon Musk securing a position in the Trump administration.

As the co-head of the newly established Department of Government Efficiency (D.O.G.E.), we could see the DOGE price receiving multiple boosts throughout 2025.

$DOGE – Department of Government Efficiency.
This is gearing up to go vertical pic.twitter.com/uLeV4NIgmi

— €ｕｒｏＳｎｉｐｅｒ (@TheEuroSniper) December 5, 2024

It is reasonable to anticipate it reaching $1 by Q2 2025, with the end of next year potentially seeing it achieve $2 or $3.

New Presale Tokens Will Ride Bull Market to Significant Gains

Dogecoin is expected to perform well over the next year, but the emerging bull market will also assist many other altcoins in achieving substantial returns.

Now appears to be an especially opportune time for presale coins, which can frequently leverage their sales as springboards for strong rallies upon listing.

Crypto All-Stars (STARS) seems to be one particular presale coin with a promising chance of success next year, having raised over $8.7 million in its sale.

Can’t Stop! Won’t Stop!
There’s a celebration at the All-Stars house and it’s not slowing down anytime soon!
8 Million is a significant milestone, and with this level of support, Crypto All-Stars is sure to make its mark in meme coin history! pic.twitter.com/Mw11M6F1ys

— Crypto All-Stars (@all_stars_coin) December 3, 2024

Its sale has only 15 days remaining, with investors flocking to it because Crypto All-Stars is the first project in the crypto space to introduce a ‘MemeVault’.

The MemeVault is a smart contract-based protocol that allows holders of any meme token to stake their assets and earn a yield.

By utilizing the ERC-1155 multi-token standard, Crypto All-Stars’ contract can tokenize any cryptocurrency, even those that do not operate on Ethereum.

This is advantageous for STARS since users will receive higher staking rewards in relation to the amount of STARS they possess.

In other words, users can stake Dogecoin, for instance, and if they also hold STARS coins, they will earn greater rewards.

This creates significant potential demand for STARS, suggesting it could experience a bullish rally once it launches.

POV: Unwinding after a long day of consolidating ALL of your favorite memes into one vault pic.twitter.com/mcQbjKP5cp

— Crypto All-Stars (@all_stars_coin) December 4, 2024

There is still an opportunity to participate in its sale, which investors can do by visiting the official Crypto All-Stars website.

1 STARS is currently priced at $0.0016782, marking the final presale price.

After 15 days, STARS will be listed on exchanges, where it could potentially emerge as one of the most significant new tokens of the year.

Check Out Crypto All-Stars

The post $10 DOGE Price Surge? Whales Accumulate in Remarkable Numbers appeared first on Cryptonews.