- Dogecoin broke out of a bullish pennant, with analysts eyeing a potential $2.77 price target.
- Whale activity spiked with 588 $1M+ transactions, signaling increased interest and short-term price volatility.
Dogecoin [DOGE ($0.37)] was showing strong market activity, supported by rising large transactions and bullish technical patterns.
DOGE gained attention after the Department of Government Efficiency, led by Elon Musk, added Dogecoin’s logo to its official website. During Trump’s inauguration, Musk reiterated his support for the cryptocurrency, saying, “We are taking DOGE to Mars.”
DOGE increased by 2.01% in the past 24 hours to $0.3778, with a 9.57% increase over the past seven days.
Dogecoin’s market cap now stands at $55.98 billion, supported by a circulating supply of 150 billion coins and a 24-hour trading volume of $9.93 billion.
Whale activity and network growth
Whale transactions have surged on the Dogecoin network, with 588 transactions over $1 million recorded in the past 24 hours, according to analyst Ali.
This uptick suggests h…
