Analysts predict the price of Dogecoin will soar to $0.73 as the holding amount of Whales increases by 324%.

The cryptocurrency market is primarily in the green today as most cryptocurrencies show gains of one or two percent. The price of DOGE is no exception as it has recorded a daily increase of 1.47%, reaching a value of $0.1606. Like the price action, the price predictions for DOGE made by analysts do not instill confidence. Some analysts believe that the price of Dogecoin will rise to the sky. However, we also have cryptocurrency experts who suggest that we will see a significant fall in value before reaching the next bullish surge of DOGE. Will Dogecoin repeat the bullish pattern of 500%? There are some predictions about the price indicating that the value will continue to fall before DOGE sees any bullish movement. SwallowAcademy has provided such an analysis with a prediction of a fall before a potential rise to the sky. They used the Dogecoin and USDT pair to conduct the analysis and concluded that the price could fall to the sky by 40%. With the current price at $0.1606, DOGE could fall to a low of $0.09 before recovering. Additionally, this market analyst has also highlighted a previous pattern when Dogecoin dropped from $0.23 to $0.09. After that, the price recovered, extending into a bullish trend, reaching $0.45.

Chart 1, provided by cryptocurrency analyst Steph is Crypto, shows his bullish price prediction for DOGE. Based on this analysis, the price action of this coin is showing a pattern previously seen before a rise to the sky. This pattern includes a few weeks of falling price action before the price of Dogecoin increases by nearly 500%. In his X post, this cryptocurrency analyst claims that the price of DOGE has now hit the bottom. Therefore, he believes that, just like last time, now, after 129 days of falling, we will see the price of DOGE rise again. Thus, if a similar pattern repeats, we will see a bullish surge up to $0.73583. Will Dogecoin reach the level of $0.45 after four bullish rallies? However, the analysis from SwallowAcademy currently indicates that DOGE is undergoing the same price action once again. Thus, there must be a fall before the price rises to the sky four consecutive times and reaches the price of $0.45. This analysis and prediction of Dogecoin’s price may also be supported by some newly released on-chain DOGE data. IntoTheBlock, a market analysis company, has shared some information related to the age and expectations of Dogecoin holders. Why are long-term DOGE holders suddenly selling off? Based on data released by IntoTheBlock, we have recently seen significant changes in the dynamics of Dogecoin holders. Last month, we observed a 2.67% decrease in the number of investors holding DOGE for over a year. Additionally, the number of investors holding for 1 to 12 months also dropped by 12%. However, we saw an almost 100% increase in the number of investors in DOGE in less than a month. Thus, we will witness more fluctuations with both falls and bullish trends as short-term investors create volatility. They tend to react faster than long-term holders, extending minor price movements. The price of Dogecoin skyrocketed as whale inflows surged by 324%? The recent changes in the movements of large investors may also be a reaffirming sign of the DOGE price prediction. Based on market data, large DOGE investors have increased cash flow by nearly 324% in the past month. Just in the past week alone, cash inflow surged by 5%. Despite this increase in cash inflow, the DOGE market is currently dominated by retail traders. However, there is still useful information to extract from the changes in whale behavior. The increasing accumulation of large investors is often a sign of a significant upcoming market move.