Dogecoin 
$0.388908 whales created a buzz in the cryptocurrency market on Monday with significant purchases. Recent on-chain data indicates that large holders accumulated 140 million DOGE, heightening buying pressure on the asset. Consequently, traders and market participants anticipate substantial gains in the price of the dog-themed meme coin in the near future.
Dogecoin Whales’ Impact
According to leading cryptocurrency market analyst Ali Martinez’s recent post on X, Dogecoin whales purchased 140 million coins within the last 24 hours. This surge in buying demonstrates the increasing market interest in the asset and has sparked a wave of optimism amidst the overall developments in the crypto market.
Notably, DOGE has recently become one of the most discussed topics in the crypto world, especially with Elon Musk’s launch of X payments fueling price surge speculation. The X Money service, expected to be introduced this year, aims to offer services similar to China’s WeChat, though it may not initially support cryptocurrency. While no official announcement is available yet, market participants want to believe that stablecoins like Bitcoin 
$102,245, Dogecoin, and Tether will play a role in the launch.
DOGE Price Outlook
At the time of writing, DOGE’s price saw a daily increase of approximately 2%, currently trading at $0.3861. The coin’s 24-hour low and high were recorded at $0.3763 and $0.3891, respectively.
Recent DOGE price analysis reveals that a 30% gain is possible within a robust market framework. Notably, the relative value z-score indicator of market capitalization shows that despite a 365% increase since the September lows, DOGE still has room to grow.
Intense buying activity in Dogecoin and recent favorable market dynamics have bolstered investor confidence in the meme coin. Expectations that Elon Musk’s planned payment services on the X platform could support DOGE’s price could contribute to its future valuation growth. Investors can evaluate market trends by monitoring these developments.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
