Dogecoin has witnessed a surge in cryptocurrencies gigantic transactionsbefore Ethereum. This provides a bullish outlook for the top meme coin as it suggests that whales are actively accumulating DOGE.
Dogecoin sees a 41% raise in gigantic transactions
IntoTheBlock data shows that Dogecoin has seen a 41% raise in gigantic transactions, with $23.35 billion worth of transactions transacted in the last 24 hours. That puts Dogecoin before Ethereumwhich saw a decline in the number of gigantic transactions, $7.05 billion worth of transactions were transacted during the period. This development presents an bullish outlook for DOGE.
A surge in gigantic transactions is usually bullish because it suggests that whales are actively collecting cryptocurrency data. This accumulating trend could lead to a surge in Dogecoin prices given the influence these investors have on the market. Cryptocurrency analyst Ali Martinez also confirmed that whales actively accumulate DOGE.
In X’s post, Martinez claimed that the whales bought over 300 million DOGE in 24 hours. It is worth mentioning that the analyst has already provided a bullish outlook for Dogecoin, predicting that the premier meme coin could surge another 6,770% if it continues to follow the rising parallel channel pattern.
The attached analyst chart showed that Dogecoin’s price could rise to around $2.50 if the meme coin reaches the middle of this ascending channel. Meanwhile, DOGE could rise as high as $29 if it reaches the top of this rising channel. Cryptocurrency analyst Tardigrade dealer also recently highlighted an ascending channel that showed DOGE could witness a price breakout this month.

Trader Tardigrade’s analysis has shown that Dogecoin may finally reach the long-awaited psychological level of $1 this month, thus marking a fresh highest level ever (ATH) for the most critical meme coin. The attached analyst chart also showed that DOGE could go as high as $12 during this market cycle.
DOGE interrupts the breakout of the falling triangle
In a more recent post on X Trader, Tardigrade revealed that Dogecoin has broken out of the market descending triangle downstairs. He stated that this chart pattern could later lead to a pointed raise in DOGE values. The attached analyst chart showed that the top meme coin could bounce as high as $0.56 in the tiny term.

This potential rebound in Dogecoin’s price to $0.56 could pave the way for a surge in the meme coin’s price to its current ATH. Cryptocurrency analyst Kenobi’s master predicted that DOGE could reach $1.2 if it breaks its ATH of $0.74 in January. Interestingly, the analyst also raised the possibility of the meme coin increasing to $3.4 and corresponding to Ethereum’s current market capitalization.
At the time of writing, Dogecoin is trading at around $0.33, up over 8% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com