Top Dogecoin Price Predictions Recently as $DOGE Reaches Highest Level in 3 Weeks

The cryptocurrency market has once again entered the green zone in the past 24 hours, and Dogecoin is among the best-performing coins. The price of the OG meme coin has surpassed $0.20, a high not seen in the past three weeks. Additionally, DOGE has solidified its position as the eighth largest cryptocurrency after its market capitalization rose above $30 billion.

Many analysts have emphasized this price surge, predicting that it could signal the beginning of a major bull run. User X Henry recalled that the last time DOGE recorded such a revival was in September 2024, followed by a leap above $0.40. They believe that the price could skyrocket to $0.50 or even $1 if history repeats itself. Another market observer, using the nickname X is CryptoELlTES, is even more optimistic by predicting the price will rise tenfold to a new record high above $2. Famous analyst Rekt Capital also participated. They told their over 500,000 followers on X that if DOGE regains a weekly closing level above $0.22, then the price action below that level in the past few weeks "will be a downward deviation as part of the process of testing the very volatile March highs." Whales Are Moving The latest actions of large investors, known as whales, signal that Dogecoin may rise further in the short term. Renowned analyst Ali Martinez estimates that industry participants have purchased over 200 million DOGE tokens in the past two weeks. This amount is equivalent to more than 41 million dollars based on the current exchange rate. Martinez stated that these efforts demonstrate "strong confidence despite recent volatility". Such large purchases could encourage smaller players to follow suit and distribute new capital into the ecosystem of the meme coin. Furthermore, this could lead to a supply shock. A decrease in circulating supply creates scarcity, combined with unchanged demand, will lead to prices rising at least according to the fundamental principles of economics (.