Dogecoin News Today: Dogecoin Surges 8% After Whales Buy $500 Million in Tokens

Cryptocurrency whales have been aggressively accumulating Dogecoin (DOGE) over the past seven days, with reports indicating that approximately 2 billion tokens were absorbed by large holders during this period [1]. This buying activity, noted by on-chain analysts and market observers, has coincided with renewed price momentum, suggesting a potential shift in sentiment for the meme token [2]. Analyst Ali Martinez highlighted the move in a public statement, emphasizing that the accumulation represented a significant inflow by whale wallets [5].

At a current valuation of approximately $0.24 per DOGE token, the 2 billion-unit accumulation equates to roughly $500 million in value [3]. This figure is based on CoinMarketCap’s live price data, which also shows DOGE maintaining a position among the top ten cryptocurrencies by market capitalization [4]. The token’s 24-hour trading volume remains in the billions, reinforcing its liquidity profile and the potential influence of whale activity on price movements.

Technical indicators have aligned with the bullish on-chain activity. The formation of a Golden Cross—a 50-day EMA crossing above the 200-day EMA—has historically signaled the end of a bearish trend and the start of a potential bull market [6]. Alongside this, the RSI is in a moderately bullish range, and the MACD has turned positive, both reinforcing the short-term momentum. However, analysts caution that the MACD histogram remains small, indicating the rally is still in its early stages and may require sustained buying to consolidate gains [7][8].

Price action has also drawn attention to key resistance and support levels. A break above $0.26 could potentially push DOGE toward $0.30, with $0.32 as a longer-term target [9]. Conversely, a failure to hold above $0.22 could lead to a retest of the $0.20 level, where further support from buyers will be critical [10].

Whale accumulation has also driven DOGE’s market capitalization higher, with a reported $5.5 billion increase within a week, reaching a total of $36.38 billion [11]. A single 24-hour purchase of 230 million DOGE tokens contributed to an 8% price surge during that period [12]. Despite this, the token has experienced a 3% pullback in the last 24 hours, raising concerns about short-term volatility. However, analysts continue to express optimism about the long-term trend, attributing the recent buying to growing confidence from both institutional and retail investors [13].

The implications of this accumulation extend beyond price movement. Large-scale buying can tighten supply and influence market psychology, especially for meme tokens where sentiment plays a significant role. If whale activity continues and is accompanied by positive on-chain metrics, DOGE could see further upward traction. Conversely, a reversal in buying patterns or increased selling pressure from large holders could introduce downward risks.

Market observers recommend continued monitoring of whale flows, exchange inflows and outflows, and the broader crypto environment—particularly Bitcoin’s price behavior, which often sets the tone for altcoins. As the meme coin narrative remains strong, the combination of technical optimism and whale accumulation could signal a turning point for DOGE in the near term.

Sources:

[1] BlockchainReporter, https://blockchainreporter.net/2-billion-doge-bought-by-whales-over-seven-days-details/

[4] CoinMarketCap, https://coinmarketcap.com/community/articles/689e4c0242db4454689f8ed5/

[5] Ali Martinez via Twitter, August 14, 2025