DOGE Prediction to Rise 400 Percent, Can It Really Happen?

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Dogecoin (DOGE) has again stolen the spotlight after showing a consolidation phase and significant whale activity, holding a prediction of a 400 percent surge.

In the past few days, the DOGE price has experienced a retracement after failing to break through the resistance level at the intraday high of US$0.4602. However, whale activity that manages large transactions and in-depth technical analysis provides a new picture for investors.

Whale Transactions Increase Market Activity
During the price drop, whales have transferred more than US$100 million in DOGE, indicating high market interest in this asset. Two large transactions were reported, totaling more than 249 million DOGE worth around US$102 million.

The first transaction involved 131 million DOGE transferred from an unknown wallet to Coinbase, while the second transaction included 117 million DOGE sent from Binance to another unknown wallet.

Large activity like this is often considered an indicator of potential price movement. With DOGE trading above $0.40, the recent 77 percent surge in trading volume indicates increased demand.

Many analysts believe this could be an early sign of a larger price move.