Dogecoin (DOGE) has experienced a 20% drop in value over the past week, as a result of Bitcoin's market volatility.
Despite the downturn, large investors (whales) have accumulated 750 million units of DOGE, indicating confidence in its long-term potential.
Analysts suggest that Dogecoin's historical patterns point to potential growth, with the possibility of a significant price increase in the future.
The cryptocurrency's performance depends on the overall sentiment in the Bitcoin market, and if a positive shift occurs, Dogecoin may experience a strong recovery.