TL;DR
- Large whale transactions (over $1 million) have dropped by 94.6% in the last four weeks.
- Despite low liquidity, DOGE’s price remains in a stable consolidation phase between $0.121 and $0.124.
- Technical analysts identify historical patterns that could drive the memecoin’s value above the $1 mark.
The behavior of the sector’s largest memecoin is capturing the crypto market’s attention this week. Dogecoin’s growth potential in Cycle 3 is grabbing headlines following revelations that, despite a drop in whale activity, historical patterns suggest an accumulation phase prior to a parabolic breakout.
Currently, transactions exceeding one million dollars have dropped from 109 to just 6 in the last month, representing a 95% decrease. Generally, this type of cooling in whale movements is interpreted as a sentiment of caution, though it also reduces immediate selling pressure while the asset trades near $0.121.
Nonetheless, this lack of massive capital movement coincides with a rare price stability within the ecosystem. Therefore, the market appears to be bracing for a volatility breakout that will depend exclusively on a new catalyst or the return of institutional interest.
Technical Analysis: Toward a Projected Gain of 4,100%
Analyst Bitcoinsensus shared charts revealing Dogecoin entering a phase that mimics its two previous glory cycles. In the past, DOGE recorded increases of 60x and 215x following prolonged periods of lateralization, supporting the theory of a new monumental rally.
If the pattern repeats exactly, projections indicate the asset could experience a rally exceeding 4,100%, pushing its price above one dollar. This scenario would transform the current consolidation phase into the necessary foundation for a bullish move unprecedented in the coin’s history.
In summary, low whale activity suggests short-term lethargy, but the market’s technical structure points toward an optimistic outcome. Investors should closely monitor support levels, as overall sentiment will determine whether this cycle meets the high expectations projected.
