Dogecoin whales have recently bought over 500 million coins from crypto exchanges, signaling increased market confidence in the token’s long-term prospects. This has led to speculation that the dog-themed coin’s price could see a staggering 9000% gain in the future. Dogecoin has been gaining popularity, in part due to Elon Musk’s role in promoting the coin and his podcast “dogecast” with Vivek Ramaswamy.
Analysts expect that in order for DOGE to achieve a 9000% parabolic rally, there will likely be corrections of 40% to 50%. This bullish projection is supported by historical trends, as the coin experienced a 9,470% pump in 2017 with corrections of 40% and 84%. On-chain data also suggests potential for top meme coins like DOGE and SHIB to rally in the coming days.
