After Donald Trump’s inauguration, Dogecoin saw a huge jump in activity. While the whole crypto market is doing well, Dogecoin showed something really interesting.
High-Value Transactions Explode
Crypto analyst Ali Martinez, using data from Santiment, noticed a massive increase in Dogecoin transactions over $1 million. In just 24 hours, there were 588 of these huge transactions! This usually means investors are feeling confident and expect the price to go up. It suggests people are buying, not selling.
Trump’s Influence and Market Sentiment
This surge in big Dogecoin transactions happened at the same time as a generally positive feeling about the crypto market under the new Trump administration. Smart money is already moving in, expecting good things. Even if some of the Dogecoin activity is selling, the overall positive mood should quickly absorb any downward pressure.
Social Media Buzz
Dogecoin is also super popular on social media right now, with over 500,000 mentions on X (formerly Twitter) in 24 hours. This is partly because of the newly formed “Department of Government Efficiency,” which has the same acronym (DOGE) as Dogecoin, causing a lot of excitement. More social media buzz usually means more people buying in, which could push the price even higher.
Dogecoin’s Price: A Bullish Future?
Martinez also looked at Dogecoin’s price chart. He sees a long-term upward trend, suggesting the price could keep rising. His analysis shows a possible price target of $15 – a massive increase of over 4,200% from the current price of around $0.343. While this is a very optimistic prediction, the chart pattern does suggest continued growth.
