Despite a broader crypto market recovery, Dogecoin (DOGE) experienced marginal decline in price this week. This dip came despite significant whale accumulation of 480 million coins, signaling long-term confidence in the asset. The DOGE ETF’s recent launch has further boosted investor sentiment. With over $3 million in net inflows since its inception, institutional interest in Dogecoin is rapidly increasing.
However, the DOGE price remains volatile. While trading volume decreased 29%, reaching $1.27 billion, and hovered near $0.15 mark, indicating a pause from recent market recovery following the crash to $0.13 earlier this week.
Despite the short-term decline, experts have offered optimistic predictions for DOGE price. A surge to $1 is projected, fueled by bullish whale activity and increased institutional confidence from the successful approval of the Dogecoin ETF.
The rise in large investor bets is a clear indication of their long-term vision for the asset. This sentiment is further bolstered by growing optimism surrounding the DOGE ETF. Data shows net inflows exceeding $2.85 million since launch, reflecting a positive outlook from institutional investors.
Additionally, analysts are monitoring key price patterns on the weekly chart, with some predicting a potential reversal and bullish movement to $1. Meanwhile, other experts remain cautiously optimistic, pointing out the need for further analysis before confirming such predictions.
Overall, the DOGE market remains dynamic and unpredictable, but recent events suggest significant confidence in its future trajectory.