Dogecoin's price has jumped by 12%. This surge comes from increased transactions by large investors, often referred to as whales, and a rise in open interest.

Analysts are feeling optimistic. One expert predicts a potential rally of 234%. Another points to a double bottom breakout, suggesting more good news ahead.

Here’s the latest on cryptocurrency performance:

  • Dogecoin (DOGE): $0.3785 (+11.8%)
  • Pepe (PEPE): $0.0000215 (+15.15%)
  • Shiba Inu (SHIB): $0.0000245 (+5.29%)

During Friday’s trading session, Dogecoin (DOGE/USD) saw a significant price increase. This performance has analysts buzzing. The leading meme coin outpaced its competitors, especially as Bitcoin climbed back above $98,000.

Crypto trader Javon Marks shared his insights. He sees strong momentum for Dogecoin and has set an initial price target of $0.6533, which is a 75% increase. If DOGE breaks this level, Marks believes it could soar to $1.20 or higher, indicating a possible 234% gain. Another trader, Tardigrade, noted that DOGE seems to have reached a local bottom, hinting at new highs.

Technical analyst Kevin also weighed in. He highlighted the strength of DOGE on the DOGE/BTC chart. Kevin pointed out key indicators, including a successful retest of the macro golden pocket and solid demand support. He urged his followers to keep an eye on these indicators as momentum builds.

In addition, chart analyst Ali Martinez revealed some interesting whale activity. Over 1.08 billion DOGE was purchased in the past 24 hours. This spike in large transactions has sparked curiosity about potential price movements.

According to Coinglass data, open interest in Dogecoin surged by 20.7%, reaching $2.7 billion. The volume of derivatives trading increased by 27.1%, showing a rise in market activity. Meanwhile, DOGE short liquidations fell to $10 million, the lowest since December 21.

Looking ahead, Galaxy Research has some bold predictions. They forecast Bitcoin hitting $150,000, Ethereum reaching $5,500, and Dogecoin climbing to $1.