The rise of Dogecoin towards macro price discovery will rekindle the bullish sentiment of dog-themed meme coins led by Shiba Inu, Floki, DOGS, and Baby Doge Coin, among others.
Dogecoin DOGE $0.27 24h volatility: 7.1% Market cap: $40.57 B Vol. 24h: $19.37 B , the oldest meme coin secured by a robust network of miners akin to Bitcoin’s Proof-of-Work (PoW) consensus, has signaled the onset of the thrilling part of the 2025 bull rally. The dog-themed memecoin, backed by more than 6 million on-chain holders, rallied more than 12% in the last 24 hours to trade about 42 cents on Friday, January 17, during the mid-London session.
As Bitcoin price retested a crucial resistance level around $102K for the second time in 2025, Dogecoin price rallied above 40 cents for the first time since the yearly calendar flipped. After potentially completing a two-month correction, DOGE has accumulated significant buying pressure to guarantee a similar rally to XRP in the near term.
Dogecoin Technical Enhancement and Market Developments
As the leading meme coin, backed by popular tech billionaire and entrepreneur Elon Musk, Dogecoin’s core developers have been working on crucial network upgrades to ensure smooth and seamless adoption. Moreover, the Dogecoin network is a layer one blockchain that must offer the utmost security, scalability, and value to the end users.
For instance, Dogecoin’s core developers recently released version 1.14.6 to include wallet protection and enhanced cheaper usage of Dogecoin Core Wallet. The ongoing Dogecoin core improvements will play a crucial role in the highly anticipated integration with the X payments.
Already, the X platform has received money transmitter licenses across 33 states in the United States. With Musk’s front seat in the upcoming Donald Trump administration, the growth of the X platform is expected to increase exponentially over the years.
Consequently, the imminent integration of Dogecoin in X payments will enhance its real-world utility and on-chain activity. The rising adoption of DOGE by whale investors will reduce the circulating supply and lead to a major parabolic rally before the end of 2025.
DOGE Whales Bet on an Imminent Parabolic Rally
According to on-chain data analysis, the Dogecoin network has registered a significant spike in whale activity, amid the renewed hope for a parabolic altseason. Moreover, the TOTAL3 market cap, which excludes Bitcoin and Ethereum, has broken out of a symmetrical triangular consolidation.
In the past two days, Dogecoin whales, with an account balance of between 100 million and 1 billion coins, accumulated 200 million DOGE units, thus currently holding around 23 billion.
Earlier today, a major whale investor transferred 400M DOGE, worth more than $154 million, to a different wallet.
As a result of the heightened demand from whale investors, DOGE price has broken out of a potential bullish pennant. According to crypto analyst Ali Martinez, DOGE price could be mirroring the same fractal pattern to the 2021 cycle, thus a potential upsurge towards its all-time high in the near term.
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