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Dogecoin Price Eyes 5X Rally As DOGE Whales Bag 180M Coins

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19 hours ago

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Dogecoin price remains much-eyed by crypto traders and investors as whale accumulations for the meme coin spiked recently. A renowned market analyst revealed on Wednesday that DOGE whales accumulated 180 million coins amid the ongoing broader market flux.

As a response, investors now anticipate a highly bullish price outlook amid rising buying pressure. Further, top analysts also conveyed a highly bullish forecast for the token amid strong market technicals, with one even revealing that a 5x rally looms.

Dogecoin Price Bullish? Here’s Why Whale Data Sparks Optimism

According to analyst Ali Martinez’s X post on March 5, DOGE whales purchased a whopping 180 million coins in the last 24 hours. The analyst’s data suggests that the accumulations occurred as the Dogecoin price fluxed near the $0.2 price level intraday.

DOGE WhalesDOGE Whales
Source: Ali Charts, X

For context, rising whale accumulations signal heightened market interest, underscoring the asset’s potential for gains. Moreover, it’s also noteworthy that whales reflected a potential ‘buy-the-dip’ sentiment amid broader volatility.

Why The Broader Turbulence?

Notably, weekly and monthly Dogecoin price charts showcase a 6% and 19% dip, respectively. This waning action is attributable to a market bloodbath in February due to macro heat and liquidity hurdles.

Traders and investors panic sold risk assets amid Donald Trump’s new import tariffs on China, Canada & Mexico, which kicked off on March 4. In turn, global markets took heat amid trade war speculations. BTC price slumped from a $99K level high to as low as the $78K mark amid this market pressure. In turn, even altcoins (including meme coins) followed.

Nevertheless, CoinGape reported that the crypto market showed resilience as BTC and altcoins reversed previous losses just a day after Trump’s tariffs kicked off.

DOGE Price Jumps 3%

DOGE price today soared over 3% intraday and exchanged hands at $0.1990. The meme coin bottomed and peaked at $0.1837 and $0.2036 in the past 24 hours. Today’s rising action falls in line with the broader market trend that shows traders and investors are digesting trade war tensions.

Top Analysts Convey Bullish Outlook

Simultaneously, top crypto analysts have taken the stage to inject optimism into the meme coin. Analyst ‘Trader Tardigrade’ recently revealed that Dogecoin price follows ‘Mean Reversion on macro chart.’ This phenomenon suggests that the price is likely to return to its long-term historical average as time longs. The analyst spotlighted this concept via the price chart below, with DOGE exhibiting “Mean Reversion along the yellow dotted line on the chart.”

Dogecoin chartDogecoin chart
Source: Trader Tardigrade, X

Also, the analyst revealed that the meme coin’s price daily candle closed with a ‘Dragonfly Doji.’ This pattern suggests that Dogecoin’s price is currently at the bottom of a downtrend, indicating that a reversal, and thus gains loom.

Dogecoin priceDogecoin price
Source: Trader Tardigrade, X

On the other hand, renowned trader ‘Chandler’ revealed on X that DOGE’s MVRV ratio formed a bearish divergence against price in previous cycles. However, this phenomenon has yet to occur in this cycle, paving an optimistic path for price ahead.

DOGE MVRVDOGE MVRV
Source: Chandler, X

In addition, market expert CryptoELlTES revealed on X that the meme coin’s price is gearing up for 5x gains ahead, solidifying investor optimism amid rising DOGE whale activity and strong pattern formations.

DOGE price chartDOGE price chart
Source: CryptoELlTES, X

It’s noteworthy that with DOGE ETF approval odds gaining substantial weight in recent days, market sentiments over a 5x rally remain uplifted. A CoinGape market analysis also showed that the DOGE price can hit its peak in 2025 if institutional adoption through an ETF happens.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Fake National Hong Kong Coin Launch on Solana Exposed

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1 hour ago

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March 6, 2025

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In a shocking incident, the Hong Kong government has unveiled a sophisticated crypto scam, involving a fake social media account impersonating the city’s Chief Executive. The scammers used the account to promote a fake cryptocurrency called “National Hong Kong Coin”, prompting a swift warning from the government.

Notably, the scammers announced the launch of the fraudulent coin on Solana, garnering widespread attention. However, Hong Kong Legislative Council member Ng Kit Chuang clarified that the government hasn’t issued the cryptocurrency.

Fake National Hong Kong Coin: What to Know

Earlier today, a fake X account impersonating Hong Kong’s Chief Executive John Lee Ka-chiu announced the launch of the National Hong Kong Coin on Solana. In an attempt to legitimize the deceptive claim, the scammers used a photograph of the Chief Executive. In addition, the scammers wrote on X, “This strategic step marks a new era in digital innovation and economic growth for Hong Kong”.

Subsequently, Legislative Council member Ng Kit Chuang has reassured the public that the government has made no official announcement regarding the issuance of a cryptocurrency. He warned investors to be cautious and not fall victim to such scams, emphasizing the importance of verifying information through official channels before making any investment decisions.

Government Warns Against Fake National Hong Kong Coin

Following the scammers’ false announcement on the Hong Kong Coin, the government issued a warning. In an official statement, the SAR government clarified that the Chief Executive’s account is fake and the shared information about the crypto launch is completely false.

Legislative Council member Ng Kit Chuang’s clarification comes amidst growing concerns and queries from citizens and Web3 industry experts about a fake social media post claiming the launch of the National Hong Kong Coin. The government has firmly debunked the claims as fraudulent, and Ng has urged the public to remain cautious and vigilant.

The Rise of Government Crypto Scams

It is noteworthy that the fake Hong Kong Coin incident is part of a broader trend of crypto scams that involve impersonating celebrities and government officials to dupe investors.

Recently, scammers promoted a fake meme coin impersonating Saudi Arabia’s Crown Prince Mohammed bin Salman. Scammers created a fake account, “SaudiLawConf”, to promote a fraudulent crypto called “Saudi Arabia Meme Coin”. However, the legitimate Saudi Law Conference soon discovered that their X account had been hacked and issued a warning about the crypto scam.

Similarly, the launch of Libra token, promoted by Argentinian President Javier Milei, has also created controversy. The token, which jumped by 3000% to an ATH of $4.5, soon reached its low, when the pulled $87M worth of LIBRA, leaving investors with significant losses.

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Nynu V Jamal

Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Analyst Predicts TRX Price To Hit $1 As TRON Network Activity Heats Up

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2 hours ago

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March 6, 2025

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Renowned crypto analysts took the stage on Thursday, projecting a highly bullish outlook for TRX price ahead. Analyst ‘Ali Martinez’ spotlighted a remarkable spike in TRON network activity as it scales new highs, whilst ‘Crypto Patel’ revealed that a $1 price target is potentially achievable this bull cycle. As a result, traders and investors optimistically eye the Justin Sun-backed token amid a broader market recovery.

Analyst Forecasts TRX Price To $1

At the time of reporting, TRX price witnessed a 2% uptick and exchanged hands at $0.2458. The coin bottomed and peaked at $0.2407 and $0.2465 intraday. Notably, the rising trajectory aligns with the broader crypto market’s recent recovery-like trend.

Simultaneously, analyst Crypto Patel took to X, revealing that TRON is showcasing a strong momentum and a $1 price target potentially looms. According to the price chart shared by the analyst, the coin’s price holds strong support at $0.140. A sustained hold above this level remains bullish.

TRX price chartTRX price chart
Source: Crypto Patel, X

The best ‘buy zone’ lies at $0.160 – $0.180, given the opportunity presents itself, per the analyst. Notably, the current price levels are considerably above the mentioned support zone, whilst sustained demand could propel new highs.

Can The Analyst’s Prediction Come True?

Intriguingly, it’s noteworthy that the analyst predicted a 200-300% surge in TRX price during October last year. Back then, the coin’s price traded around the $0.16 level, per CoinMarketCap data.

Subsequently, the price hit a $0.426 level as of early December 2024. This past chronicle is worth considering, although the price soon fell amid broader market trends.

TRON Network Activity Surge Bolsters Bullish Prediction

On the other hand, TRON network activity rose substantially, reaching a 2-month-high as of March 4.

According to analyst Ali Martinez, 2.94 million active addresses were recorded on the network recently. This data suggested rising market interest in the Justin Sun-led crypto project, paving a bullish road ahead.

TRON Network ActivityTRON Network Activity
Source: Ali Charts, X

Crypto Market Recovery Bolsters Hope

Simultaneously, the broader crypto market’s recovery-like trend has solidified investors’ optimism on TRX price. Bitcoin and altcoin witnessed notable gains amid pro-crypto developments in the U.S.

Donald Trump’s strategic crypto reserve announcement appears to have substantially boosted the market sentiment. Moreover, the looming U.S. crypto summit set for Friday has also glimmered hope over the market’s future prospects. Crypto market participants continue to monitor TRON extensively amid broader developments, signaling that a bull run to $1 is possible.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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BTC Nears $92K, Major Altcoins Gain

Published

5 hours ago

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March 6, 2025

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The crypto market today (March 6) has sustained upward action, sparking investor optimism globally. Bitcoin (BTC) price traded near the $92K mark as of early Asian hours on Thursday. Whereas, major-league altcoins also traded in the green zone. Notably, Ethereum (ETH), Solana (SOL), and XRP prices witnessed a 1%-5% uptick intraday.

Crypto Market Today: BTC, ETH, XRP, & SOL Up Amid Crypto Reserve Optimism

With Donald Trump’s recent announcement surrounding the creation of a U.S. crypto reserve that includes BTC, XRP, SOL, and ADA, the cryptocurrency sector appears to be riding optimistic waves. Following a previous bloodbath in late February that was induced via Trump’s tariff saga, this news appears to have boosted market sentiments as March kicked off.

It’s noteworthy that Trump’s much-awaited crypto summit in the White House is set to commence on the upcoming Friday. As an upshot, traders and investors mirror optimism amid recent advancements, digesting previous trade war tensions. In line with this optimism, the crypto market today gained nearly 4%, as indicated by a market cap of $3 trillion.

BTC Price Nears $92K

BTC price gained nearly 5% in the past 24 hours and exchanged hands at $91,538. CoinMarketCap’s data indicated that the coin hit an intraday peak near the $92K level, at $91,996.45. The flagship coin rose alongside a 6.5% increase in its futures OI to $50.83 billion, signaling growing market interest. Further, even Bitcoin’s market dominance stood up by 0.43% to 60.67%, flagging a dominant upside movement compared to altcoins.

ETH Price Gains 5%

ETH price witnessed a 5% uptick in the past 24 hours and exchanged hands at $2,284. The coin bottomed and peaked at $2,159.01 and $2,293.55 intraday. Ethereum rises alongside a 6% incline in its futures OI to $20.03 billion today. Further, the second-largest crypto by market cap saw its dominance at 9.2%. Intriguingly, Ethereum developers recently resolved a key setback on the Sepolia testnet, jacking up the Pectra upgrade.

XRP Price Jumps Over 1%

XRP price witnessed gains of slightly over 1% and exchanged hands at $2.51. The coin’s intraday low and high were $2.42 and $2.54, respectively. Ripple’s crypto witnessed a nearly 3.5% uptick in its futures OI, closing in at $3.42 billion. The leading crypto sees a bullish movement amid rising XRP whale transfers and active addresses on the network. Whilst the SEC lawsuit is speculated to end soon, solidifying positive market sentiments.

SOL Price Jumps 4%

SOL price witnessed a 4% surge intraday and traded at $148. The coin swooped to a $140.60 low and a $149.64 high in the past 24 hours. Solana rose alongside a 4% increase in its futures OI, per Coinglass data, indicating heightened market interest in the asset. Further, the coin follows the broader market trend on Thursday.

Meme Crypto Market Today

Dogecoin (DOGE) price gained nearly 5% and closed in at $0.2086. Shiba Inu (SHIB) price jumped 4% to $0.00001348. Also, Pepe Coin (PEPE) gained 3% to reach $0.000007152. Overall, the meme coin market is following the broader cryptocurrency prices today.

Top Crypto Market Gainers Today

Ondo (ONDO)

Price: $1.18
24-hour Gains: +20%

Cronos (CRO)

Price: $0.08784
24-hour Gains: +20%

Movement (MOVE)

Price: $0.4677
24-hour Gains: +16%

Top Crypto Market Losers Today

Story (IP)

Price: $5.22
24-hour Loss: -6%

Toncoin (TON)

Price: $3.03
24-hour Loss: -3%

Ethena (ENA)

Price: $0.3607
24-hour Loss: -3%

Overall, the crypto market currently reflects rising trader and investor optimism amid broader pro-cryptocurrency developments. Nevertheless, the fear and greed index showed a ‘fear’ sentiment prevailing within the market, which some experts believe is the best time to invest.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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