Dogecoin may rise due to Elon Musk's influence.

Dogecoin (DOGE) continues to consolidate around 0.17 dollars, while on-chain data shows that major asset holders are entering a significant buying phase. Despite the overall market pullback, this shift indicates that whales are positioning themselves for a possible large move. Additionally, this process is developing under the influence of ongoing speculation regarding Elon Musk's potential payment integration into the X platform (formerly known as Twitter). This situation increases expectations that DOGE could transition from a meme coin status to that of a utility token.

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

On the other hand, a situation is forming that is consistent with the technical formations historically observed before DOGE's most explosive rallies. Analyst Trader Tardigrade states 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 might be preparing for the next major surge targeting the 0.30 dollars level. Additionally, Javon Marks's more detailed analysis points out that DOGE is forming higher lows, which is a classic indicator that the market is finding support at higher levels.

Meanwhile, considering DOGE's potential, the development of Minotaurus (MTAUR), a mathematics-based, utility-focused project on the BNB Chain, offers 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 observed over 2.93 million USDT in registrations towards its goal of 6.44 million USDT in token sales. The token is currently trading at 0.00012493 USDT, with the planned next stage price set at 0.00014 USDT.

Investors should pay attention to these points, as they are crucial for understanding the current market dynamics. It is recommended that investors and interested parties closely follow the DOGE and Minotaurus projects to evaluate their potential.