Massive Dogecoin Rally Incoming: Bigger And Better Than 2021 — Analyst

Christian Encila

Last Updated: December 15, 2024 3:32 pm

3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Dogecoin (DOGE) is once again capturing the attention of the market as bullish momentum surges through. Optimism regarding meme cryptos such as Dogecoin has increased as Bitcoin continues to meander near historic highs. Recent reports have emphasized the significant whale activity and the potential for a colossal rally that could rival—or even surpass—its iconic 2021 performance.

Crypto analysts are abuzz with enthusiasm, indicating that Dogecoin may be on the brink of a historic breakout. Is it possible for this meme coin to surpass the odds and achieve new heights?

A massive rally is coming for $DOGE

Bigger than the one that happened in 2021. pic.twitter.com/F0DEP3amVI

— CEO (@Investments_CEO) December 14, 2024

Whales Accumulate Millions Of Dogecoin

In the last 24 hours, Dogecoin billionaires have acquired an astonishing 160 million DOGE, which has fueled speculation regarding the coin’s forthcoming significant move. Major investors frequently exhibit confidence when they make these substantial acquisitions, which frequently precede swift price increases.

Market analyst Ali Martinez said on X that this whale activity corresponds to the ongoing upward trend of Dogecoin. DOGE has already witnessed a 320% increase over the past year, which makes such hopes of a huge rally more promising. This significant buying power also renews discussions regarding the coin crossing the elusive psychological barrier of $1 – a barrier DOGE has never crossed despite being one of the most popular coins.

Whales bought another 160 million #Dogecoin $DOGE in the last 24 hours! pic.twitter.com/FLr6XL3rMi

— Ali (@ali_charts) December 13, 2024

Analysts See Patterns From 2021

The current market structure is being compared by market observers to the explosive rally of 2021, during which Dogecoin experienced a 30,000% increase. Crypto analysts recently observed that Dogecoin’s chart is exhibiting a familiar consolidation pattern, which frequently precedes a significant breakout.

$DOGE is basically ready for the next move. pic.twitter.com/PQQgNbUktq

— Cantonese Cat 🐱🐈 (@cantonmeow) December 12, 2024

In 2021, a similar setup propelled DOGE to its all-time high of $0.7376. Now, with the coin trading around $0.4075, there’s growing anticipation for another sharp upward trajectory. Veteran analyst Cantonese Cat has even speculated that Dogecoin could reach $24 in the long term if the broader market remains bullish.

Although these predictions are audacious, history indicates that Dogecoin’s performance can astound even the most experienced traders.

DOGE is currently trading at $0.403. Chart: TradingView

A Meme Coin With Momentum

The recent momentum of Dogecoin is not solely attributed to whales and statistics; it is also influenced by sentiment. DOGE remains in the public eye as a result of Elon Musk’s tweets and humorous endorsements, which have fueled the enthusiasm of retail investors.

Dogecoin has demonstrated resilience, despite retracing 16% from its multi-year resistance last week. It is widely believed that the meme coin will eventually follow in the footsteps of Bitcoin’s favorable trends and ascend to greater heights.

The current consolidation phase may prove to be a critical juncture for merchants and enthusiasts. Dogecoin is once again showing that it’s more than a joke—it’s a movement—whether it reaches $1, $24, or somewhere in between.

Featured image from DALL-E, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.