Dogecoin News Today: Dogecoin Surges 4.7% on 680M Whale Buying Amid Security Concerns

Dogecoin (DOGE) has seen a strong price rebound over the past 24 hours, with a reported increase ranging between 3.98% and 4.7% across different platforms. As of August 21, 2025, the coin is trading at approximately $0.2228, with a 24-hour trading volume of around $2.96 billion. This upward movement has been largely attributed to whale activity, as large investors have accumulated nearly 680 million DOGE tokens in recent days, signaling increased confidence in the coin’s short-term prospects [1].

The recent price action has occurred despite growing concerns over network security, including a reported 51% attack risk from Qubic Network. However, these concerns have not deterred investor interest, as the accumulation by institutional or high-net-worth investors appears to be counterbalancing retail selling pressure. This dynamic has reinforced the perception of a potential bullish turnaround in the DOGE market. Analysts have not yet provided major forecasts for DOGE, but the pattern of whale buying suggests the possibility of a continued upward trend in the near term [2].

Dogecoin is currently competing with other altcoins for investor attention, with tokens such as OKB, PENGU, and emerging meme coins like Wall Street Pepe capturing significant momentum. Notably, OKB, the native token of OKX, has risen nearly 50% in the last 24 hours, driven by increased trading volume and the launch of X Layer, a new blockchain layer built on Arbitrum. These developments underscore a broader altcoin rally occurring against a relatively stagnant Bitcoin market [3].

Despite the recent price gains, Dogecoin’s fundamental profile remains largely unchanged. It has not introduced new use cases or utility features in recent months, unlike some of its rising counterparts. However, its status as one of the most widely recognized meme coins continues to attract both retail and institutional investors. With a market capitalization above $33 billion, DOGE remains among the top-performing altcoins, although its trading volume has slightly declined [4].

Looking ahead, key factors that will influence Dogecoin’s performance include the continuation of whale buying activity, the impact of broader macroeconomic conditions on the crypto market, and any new developments within the Dogecoin community. While the current price action is positive, the long-term sustainability of DOGE’s rally will depend on increased adoption and the introduction of meaningful utility features, which are currently limited.

---

[1] https://www.ainvest.com/news/dogecoin-news-today-dogecoin-rallies-4-8-whales-buy-2b-security-fears-2508/

[2] https://pintu.co.id/en/news/196399-dogecoin-price-update-today-21august2025/amp

[3] https://news.abplive.com/business/crypto/crypto-price-today-august-21-check-global-market-cap-bitcoin-btc-ethereum-doge-okb-mantle-live-tv-1795830

[4] https://www.interactivecrypto.com/dogecoin-surges-47-on-680m-whale-buyis-030-next-for-doge