Dogecoin (DOGE) is experiencing a significant surge in trading volume alongside rapid upward price momentum. The meme coin, which has gained 27.55% year-to-date (YTD), saw a 4.30% increase in the last 24 hours, pushing its weekly gains to 8.89%. At publication, DOGE trades at $0.1148.
DOGE Whales Accumulate 1.4 Billion Coins
Cryptocurrency analyst Ali Martinez reported on X that Dogecoin whales—entities holding over 100,000 DOGE—executed trades exceeding $1 million each**, totaling **1.4 billion DOGE** (worth ~**$140 million) within 48 hours.
👉 Why are whales betting big on Dogecoin?
Key Implications of Whale Activity:
- Breakout Signal: Large accumulations often precede price breakouts, as whales restrict supply to drive upward momentum.
- New Support Levels: Such purchases establish strong support, making downward pressure harder for bears.
Bullish Catalysts for Dogecoin
- Technical Analysis: Analyst TradingShot suggests DOGE is exiting consolidation and entering a parabolic rally phase, potentially targeting $2 (a 1,649% gain) by August 2025.
- Short-Term Targets: Martinez notes sustained closes above $0.10** could fuel a run toward **$0.15 (+31%).
Risks to Consider
- June 2024 Precedent: Whales bought 1 billion DOGE in a week, but holdings later declined, triggering a price drop.
- Volatility Warning: Whale activity often correlates with sharp price swings.
FAQs
Q: Why are whales buying DOGE now?
A: Likely anticipating a breakout, leveraging supply constraints to push prices higher.
Q: Can DOGE hit $2 soon?
A: Historically, such rallies take time—analysts project mid-2025 if patterns repeat.
Q: Is Dogecoin a good short-term investment?
A: High volatility makes it risky; monitor key levels like $0.10 for stability signals.
👉 Discover more about crypto whale strategies
Stay cautious but observant—DOGE’s next moves depend on resistance breaks and whale sentiment.