Dogecoin News Today: Dogecoin Price Surges as Whales Accumulate 2 Billion Tokens

Dogecoin has experienced a recent price surge attributed to significant accumulation by large investors, or "whales," who have been buying billions of tokens, indicating potential bullish momentum. On-chain data shows that whale wallets have added over 2 billion DOGE since mid-August, pushing their total holdings to approximately 27.6 billion tokens—18% of the total supply [4]. These movements, often associated with market strength, have been accompanied by high-value transactions, with transfers exceeding $1 million reaching a one-month high [4].

One of the most notable transactions involved a 900 million DOGE transfer worth $208 million to Binance, flagged by Whale Alert and attributed to internal exchange activity. The transaction originated from a wallet holding 2.88 billion DOGE, one of the largest balances on the network [4]. Analysts suggest that such large-scale movements often precede price breakthroughs, especially when supported by positive technical indicators.

In the technical analysis, Dogecoin has tested key resistance levels, most recently reaching $0.25, and appears to be breaking through a long-term downtrend on the two-week chart. According to Trader Tardigrade, DOGE has completed a “wave V” in an Elliott Wave pattern, a setup historically followed by sharp upward moves [4]. The Stochastic RSI, previously in oversold territory, is now trending upward, reinforcing the case for a continued rally.

Despite recent volatility in the broader crypto market—with over $1 billion in liquidations reported—Dogecoin has shown resilience, managing a 2% weekly gain even after a 4% decline in the past day. Daily trading volume has reached approximately $6.18 billion [4]. Institutional confidence has also been growing, with institutional investors adding $448 million worth of DOGE over the past week [3], contributing to a broader sense of market stability.

The recent accumulation trend mirrors historical patterns observed in 2020 and late 2024, where whale activity and technical setups preceded major price surges. Analysts have drawn parallels between current market conditions and those setups, with some speculating that DOGE could see a similar move toward the $1 price level [6]. However, any projections beyond current data should be treated as speculative, and traders are advised to monitor on-chain movements and technical indicators closely.

The Spent Coins Age Band metric suggests a downturn in selling pressure, with active coins declining from 429.77 million to 209.72 million [4]. This indicates that seasoned holders are refraining from offloading their assets, particularly as prominent investors have been acquiring more, signaling reduced selling pressure. Analysts emphasize that large investors buying at low levels and retaining long-held coins are positive signs for the market [4].

Dogecoin’s recent performance reflects a broader trend of investor confidence and strategic accumulation, potentially setting the stage for a continued upward trajectory. However, the market remains subject to broader macroeconomic factors, including U.S. economic data and potential Federal Reserve policy shifts, which could influence investor sentiment and market direction in the near term [4].

Source: [1]title1.............................(https://thecurrencyanalytics.com/altcoins/dogecoin-surges-5-6-as-whale-activity-and-technical-momentum-drive-gains-190711)

[2]title2.............................(https://coincentral.com/whales-buy-2-billion-doge-as-dogecoin-price-tests-0-25-resistance/)

[3]title3.............................(https://www.ainvest.com/news/dogecoin-news-today-dogecoin-whales-accumulate-208m-price-rebound-golden-cross-rally-2508)

[4]title4.............................(https://cryptopotato.com/massive-doge-whale-activity-hints-at-1-breakout/)

[6]title6.............................(https://tr.okx.com/en/learn/dogecoin-golden-rally-whale-activity)