Krutika Adani
Continued Dogecoin purchases by whales indicated that they are preparing for a massive rally in Dogecoin. Over the weekend whales bought 700 million DOGE.
Several analysts including Ali Martinez have repeatedly indicated that Dogecoin is poised to repeat its 2021 rally with some targets indicating a rally up to $12.
Dogecoin has shown strong fundamentals in user growth, network transactions, and user demand, which seem strong enough to push it toward a major rally.
Top crypto analyst Michael van de Poppe has been bullish with targets of 566% more than current DOGE prices.
In the derivatives markets, Dogecoin witnessed a 30% rise in open interest (OI) over the last 30 days.