Renowned cryptocurrency trader and analyst Ali Martinez, known as @ali_charts on the X social media platform, has made a bold prediction regarding the future price movement of Dogecoin (DOGE), suggesting that the original meme coin could experience a remarkable surge of up to 200%.

Martinez's forecast comes amidst a backdrop of bearish market sentiment surrounding DOGE, reminiscent of conditions observed prior to the coin's meteoric rise in February. During that period, DOGE skyrocketed to $0.18, buoyed by the broader uptrend in Bitcoin prices following the approval of spot Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC).

Adding credence to Martinez's prediction, recent blockchain data reveals significant activity among DOGE whales, who have been accumulating substantial amounts of the meme coin. Martinez shared data indicating that Dogecoin whales have acquired over 700 million DOGE in the past three days alone, representing a valuation of approximately $112 million. Additionally, Whale Alert, a popular cryptocurrency tracker, has detected several large-scale DOGE transactions totaling approximately 1.5 billion coins, valued at $251 million.

The recent surge in whale activity, coupled with Martinez's optimistic outlook, has sparked speculation about the potential for a significant price surge in DOGE. At the time of reporting, DOGE is trading at $0.15887, showing a modest 2.89% increase following a minor overnight dip of 4.25%.

As the cryptocurrency market continues to exhibit volatility, investors and traders alike are closely monitoring developments in DOGE, anticipating whether Martinez's bold prediction will come to fruition and potentially propel the meme coin to new heights.