Dogecoin may rise due to Elon Musk's influence.

Dogecoin (DOGE) continues to consolidate at the 0.17 dollar level, while on-chain data shows that the largest holders have entered a significant buying phase. Despite the overall market pullback, this transformation indicates that whales are positioning themselves for a possible major move. Additionally, this process is developing under the influence of ongoing speculation about Elon Musk potentially integrating payment services into the X platform (formerly Twitter). This situation is raising expectations that DOGE could transition from its meme coin status to a utility token.

Analyst Ali Martinez stated that in the past two weeks, wallets holding between 100 million and 1 billion DOGE have added 4.72 billion DOGE. What is even more striking is that the price of DOGE has remained almost unchanged while this massive accumulation has occurred. This situation typically signifies a strong accumulation phase; large players prefer to reduce supply before triggering price movements. This development suggests that a suppression period for DOGE may be coming to an end.

Meanwhile, a situation is emerging that aligns with the technical formations historically seen before DOGE's most explosive rallies. Analyst Trader Tardigrade pointed out that the current chart structure (a local peak, followed by consolidation, and now a recovery) perfectly reflects the structures seen before the bull runs of 2017 and 2021. If this historical cycle repeats, analysts suggest that DOGE could be preparing for the next significant rise targeting the 0.30 dollar level. Additionally, a more detailed analysis by Javon Marks highlights that DOGE has been creating higher lows, which is a classic indicator that the market is finding support at higher levels.

In the meantime, considering DOGE's potential, the development of a math-based, utility-focused project called Minotaurus (MTAUR) on the BNB Chain presents a different perspective. The project is moving with a clear and time-sensitive token sale compared to assets expecting cyclical breakouts. Its reliability has been enhanced by audits conducted by SolidProof and Coinsult. Currently, the project has recorded over 2.93 million USDT in token sales towards its target of 6.44 million USDT. The token is currently trading at 0.00012493 USDT, with a planned next stage price set at 0.00014 USDT.

It is important for investors to pay attention to these points to understand the current market dynamics. Those looking to evaluate the potential they hold are advised to closely follow the DOGE and Minotaurus projects.